The ₹23,500-crore Torrent Group has set the ball in motion for the third generation of the Mehtas to take over the group's power and pharma businesses. On Monday, Torrent Power announced the appointment of Varun Mehta as a director on its board. About a week back, the group's pharmaceutical arm had appointed Aman Mehta as a director on its board.
Group insiders say with the new generation slowly taking charge, the Group plans to diversify into various sectors.
Varun, the son of Sudhir Mehta (68), has worked across different business segments of the company-renewables, thermal generation and distribution. A graduate from the University of Warwick, UK, and an MBA from INSEAD, France, Varun started his career in the renewables business, where he formulated the entry strategy of the Group into the sector. He even set up the initial set of renewable energy projects, and eventually moved on to the thermal generation business. Here he spearheaded the strategic initiative of importing LNG directly from overseas, and Torrent Power was the first Indian power company to do so.
This story is from the August 09, 2022 edition of Business Standard.
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This story is from the August 09, 2022 edition of Business Standard.
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