New Delhi, April 7 The Competition Commission of India, the regulator for fair trade, has approved Torrent Power's proposal to acquire 100 per cent stake in Nabha Power Ltd.
This move came after Torrent Power announced in February 2026 that it had entered into an agreement with L&T Power Development to acquire 100 per cent equity stakes in Nabha Power for an enterprise value of ₹6,889 crore.
"The proposed combination involves the acquisition of 100 per cent equity shares and non-cumulative, optionally convertible, redeemable preference shares (on a fully diluted basis) in Nabha Power Ltd by Torrent Power Ltd from L&T Power Development Ltd," the regulator said in a statement on Tuesday.
Torrent Power is involved in the business of power generation, transmission, distribution, and the manufacturing and supply of power transmission cables, and is part of the 'Torrent Group,' which operates in the power, pharmaceuticals, and gas distribution sectors.
Nabha Power Ltd is a wholly-owned subsidiary of L&T Power Development Ltd (L&TPDL), and has been operating a 2x700 Megawatt supercritical thermal power plant at Rajpura, Punjab, since 2014.
L&TPDL is a wholly-owned subsidiary of infrastructure major Larsen & Toubro.
"CCI approves the proposed acquisition of 100 per cent equity shares and non-cumulative, optionally convertible, redeemable preference shares in Nabha Power Ltd. by Torrent Power Ltd," the regulator said in a post on X.
After the completion of the acquisition, Torrent's operational capacity will increase from 5 GW to 6.4 GW.
The supercritical power asset reported revenue of ₹4,866 crore and adjusted EBITDA of ₹1,153 crore in FY25, along with a plant availability factor of 95.36 per cent.
Deals exceeding a certain threshold require approval from the regulator, which monitors unfair business practices and promotes fair competition in the marketplace.