Target Entity:

Torrent Urja 27 Private Limited ("Torrent Urja")

Type of Deal:

Acquisition (minority stake)

Stake/Capacity:

26% equity stake. The investment increase is due to an increase in the project capacity of the captive hybrid (Solar + Wind) power project.

Deal Value:

₹11,87,90,100 (Rupees Eleven Crores Eighty Seven Lakhs Ninety Thousand and One Hundred Only). This represents an increase from the previously intimated investment of ₹7,91,93,400.

Funding Source:

Cash consideration. The funding source is not explicitly disclosed beyond this.

Financial Impact:

Not explicitly disclosed in the document. The target entity, Torrent Urja, had a turnover of Nil as on 31st March, 2026 and is yet to commence business operations.

Timeline:

The indicative time period for completion of the acquisition is 18 to 21 months.

Strategic Rationale:

The investment is made to enhance the share of renewable power sources in the operation of the Company and to comply with regulatory requirements for being a captive user under Indian electricity laws.

Approval Status:

The transaction has been executed via an Amendment Agreement to the original Share Subscription and Shareholders' Agreement (SSSA). No further governmental or regulatory approvals are required as stated in the filing.

Reference Regulation:

Disclosure is made pursuant to SEBI Listing Regulations, Regulation 30 read with Schedule III, and referenced Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.

Additional Details:

  • Related Party Transaction: Yes. Torrent Urja is an Associate Company and a step-down subsidiary of Torrent Pharmaceuticals' holding company. The transaction is stated to be carried out on an arm's length basis.
  • Target Business: Torrent Urja is a Special Purpose Vehicle (SPV) formed for setting up a captive power project in Gujarat. Its industry is the generation and transmission of hybrid energy, consisting of wind, solar, and other renewable sources.
  • Target Background: Torrent Urja was incorporated on 6th August, 2024, and is registered with the Registrar of Companies, Gujarat at Ahmedabad. It has not yet commenced business operations.