Torrent Power has received approval for purchase of 20 lakh equity shares of Rs 10 each of TCL Cables (TCLP) for a consideration of Rs 2 crore. Prior to purchase of equity shares, TCPL was a step down wholly owned subsidiary of the Company. After this acquisition, TCPL will become a direct wholly owned subsidiary. The Board of Directors of the Company at its meeting held on November 05, 2019 has approved the same.
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.
