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Torrent Power, TIPL, TEL sign share purchase agreement
Oct-18-2024

Torrent Power, Torrent Investments (TIPL), holding Company of the Company, and Torrent Electricals (TEL), Wholly Owned Subsidiary of the Company, have signed Share Purchase Agreement (SPA) on October 17, 2024. The companies have entered into SPA for selling 100% of the Share Capital of TEL to TIPL.

The Company is holding 8,40,00,000 Equity Shares of Rs 10 each aggregating to Rs 84,00,00,000 Equity Share Capital of TEL and TEL is a Wholly Owned Subsidiary of the Company before execution of SPA. TIPL is also holding 25,74,22,311 Equity Shares of the Company. By virtue of this transfer, TIPL shall hold 100% of the Share Capital of TEL.

Torrent Power is an integrated utility engaged in the business of power generation, transmission and distribution with operations in the states of Gujarat, Maharashtra and Uttar Pradesh.


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