CCI clears Torrent Power’s 100% acquisition of Nabha Power

April 7, 2026 : The Competition Commission of India has approved the proposed acquisition of 100% equity shares and non-cumulative optionally convertible redeemable preference shares of Nabha Power Limited by Torrent Power Limited from L&T Power Development Limited, finding no competition concerns.

According to the Commission’s press release dated April 7, 2026, the transaction involves Torrent Power acquiring the entire shareholding of Nabha Power on a fully diluted basis, thereby assuming complete ownership and control.

Torrent Power, a publicly listed integrated power utility and part of the Torrent Group, operates across generation, transmission, and distribution, and is also engaged in manufacturing and supplying power transmission cables.

Nabha Power, currently a wholly owned subsidiary of L&T Power Development, operates a 2×700 MW supercritical thermal power plant at Rajpura in Punjab. The plant has been operational since 2014 and is regarded as a significant thermal asset in the region.

After assessing the structure of the transaction and the business overlap between the parties, the Commission concluded that the combination does not raise any appreciable adverse effect on competition in India. The approval paves the way for Torrent Power to fully integrate Nabha Power into its portfolio, further strengthening its generation capacity.

The CCI noted that a detailed order elaborating on its assessment will be issued in due course.