Torrent Power highest bidder for Dadra Nagar Haveli, Daman & Diu discoms

Ahmedabad-based Torrent Power Limited on Saturday emerged as the highest bidder for the sale of 51 per cent stake in the power distribution company in the union territory (UT) of Dadra & Nagar Haveli and Daman & Diu.

The acquisition of 51 per cent stake in the power distribution company by Torrent Power is subject to further formalities as prescribed under the tender documents. The bidding for the distribution business of the UT has been undertaken as part of the Government of India’s initiative to privatise distribution utilities of UTs to usher in efficiency.