Larsen & Toubro Ltd.

Larsen & Toubro’s (L&T) wholly-owned subsidiary -- L&T Power Development (LTPDL) has executed a securities purchase agreement to sell its 100% of equity and convertible instruments in Nabha Power (NPL) to Torrent Power, a leading name in the Indian power sector. NPL is a wholly-owned subsidiary of LTPDL

Given NPL’s long-term power purchase agreement and stable operating performance, the divestment is a value-driven monetisation exercise. The transaction is aligned with L&T’s broader strategy to exit the development projects business.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.