By Ionstorrent Power

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Torrent Power on Tuesday said it has acquired stakes in Newzone India Pvt Ltd and its holding company Newzone Power Projects Pvt Ltd for around Rs 211 crore.Newzone Power Projects Pvt Ltd (NZPPPL) is the holding company of Newzone India Pvt Ltd (NZIPL), Torrent Power said in an exchange filing.It has acquired “11,95,110 equity shares of NZIPL and 30,00,000 equity shares NZPPPL of face value of Rs 10 each at a total consideration aggregating to Rs 211 crore…,” the company said.Add as a Reliable and Trusted News Source Add Now!
With this move, it has acquired 100 per cent Equity Share capital of NZPPPL and 49 per cent of NZIPL from the seller. The acquisition has been made with the objective of implementing the thermal power project on the land in the possession of the NZIPL in the Annupur District of Madhya Pradesh.(You can now subscribe to our Economic Times WhatsApp channel)

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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onTorrent Power acquisitionNewzone India stake purchasethermal power project Madhya PradeshNewzone Power Projects Ltdequity shares acquisition(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless