Key Highlights
- Torrent Power acquires Newzone India and Newzone Power Projects for ₹211 crore
- Acquisition includes 49% stake in Newzone India (NZIPL) and 100% in Newzone Power Projects (NZPPPL)
- Transaction completed through cash consideration, no related-party involvement
- NZIPL holds 922 acres of land in Annupur, Madhya Pradesh
- Land to be utilised for setting up a thermal power project
- Both companies report no turnover in the last three years
Ahmedabad, September 23, 2025 – Torrent Power Limited has completed the acquisition of equity shares in Newzone India Private Limited (NZIPL) and Newzone Power Projects Private Limited (NZPPPL) for a total consideration of ₹211 crore.
The acquisition included 11,95,110 equity shares of NZIPL and 30,00,000 equity shares of NZPPPL purchased from the Sarawagi family and related HUFs. With this transaction, Torrent Power now holds 49 percent stake in NZIPL and 100 percent ownership of NZPPPL. NZPPPL already owned the remaining 51 percent of NZIPL shares.
Together, NZIPL and NZPPPL control approximately 922 acres of land, including both private and government-leased land, in Annupur district, Madhya Pradesh. Torrent Power intends to utilise this landholding for the development of a thermal power project.
The company confirmed that the acquisition was executed through cash consideration, did not involve any related-party transactions, and required no regulatory approvals. The transaction is expected to be fully completed within four months.
NZIPL was incorporated in 1999 and NZPPPL in 2008, with both companies focused on electricity generation. Neither entity has reported turnover in the past three years, and their primary asset remains the extensive landholding suited for coal-based power generation.
Torrent Power’s acquisition underlines its strategic focus on expanding capacity in the energy sector and positions the company to strengthen its presence in Madhya Pradesh’s power infrastructure.