Nabha Power

Torrent Power on Thursday said that it has completed the acquisition of 100 per cent equity stake in Nabha Power Ltd (NPL) from L&T Power Development Ltd for Rs 3,632.35 crore. Earlier this year, the company informed the bourses regarding the execution of a Securities Purchase Agreement to acquire 100 per cent of the equity stake and convertible instruments of NPL and receipt of approval from the Competition Commission of India for the said acquisition. According to a regulatory filing, the company has completed the acquisition of 100 per cent equity shares and convertible instruments of NPL from L&T Power Development Ltd (L&T) at a total consideration of Rs 3,632.35 crore, consequent to closing adjustments. Torrent Power is engaged in the business of power generation, transmission, distribution and manufacturing and supply of power transmission cables, and is a part of 'Torrent Group,' which is into power, pharmaceuticals and gas distribution sectors. Nabha Power Ltd is a

The objective is to reduce the Rs 18,000-crore debt on the books of these firms, said D K Sen, whole-time director and senior executive vice-president (development projects), L&T

Analysts expect a 12-15 per cent upside from current levels

Exit from Hyderabad Metro, Nabha Power may take 2-3 years, says CFO R Shankar Raman

When contacted, L&T did not comment on Nabha Power debt conversion or its sale

To sell off L&T IDPL, Nabha Power; transfer Hyderabad Metro to an InvIT

The claim of the Nabha Power to shut down its 750 mw plant at Rajapura in Punjab due to inability of the Coal India to offer coal is not true, a CIL official said today. The L&T group firm Nabha Power closed its Rajapura plant on June 3 stating that it was forced to take the decision due to shortage of coal supplied by the CIL. The CIL official said the Nabha Power should gear up lifting the allotted coal and rush it to its plant instead of blaming coal crisis for the shutdown of the plant. The alleged crisis at the Nabha Power is the result of its own inept handling of coal procurement plans, as booking and lifting of additional coal allocated by CIL for the peak summer/paddy season was inordinately delayed, he said. Nevertheless, the CIL and the Railways have attached priority for movement of coal to the power stations of Punjab, particularly to the Nabha Power. As on June 8, as many as 27 rakes of coal are in transit for the Nabha Power plant, he said. Coal for ..