Torrent Power Limited has acquired 100 per cent equity in Newzone Power Projects Private Limited (NZPPPL) and a 49 per cent stake in Newzone India Private Limited (NZIPL) from the Sarawagi family and associated entities for a total cash consideration of Rs 2.11 billion.
Prior to the transaction, NZPPPL already held a 51 per cent stake in NZIPL. With this deal, Torrent Power gains full control of both companies.