Torrent Power picks up stakes in Newzone India, its holding firm for Rs 211 crore
Torrent Power on Tuesday said it has acquired stakes in Newzone India Pvt Ltd and its holding company Newzone Power Projects Pvt Ltd for around Rs 211 crore.
Newzone Power Projects Pvt Ltd (NZPPPL) is the holding company of Newzone India Pvt Ltd (NZIPL), Torrent Power said in an exchange filing.
It has acquired “11,95,110 equity shares of NZIPL and 30,00,000 equity shares NZPPPL of face value of Rs 10 each at a total consideration aggregating to Rs 211 crore…,” the company said.
