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Torrent Power looks pricey, but Nabha deal to fuel growth
Mint Mumbai
|February 20, 2026
Torrent Power Ltd continues to scale its coalbased portfolio.
The recent acquisition of Nabha Power Ltd, a subsidiary of Larsen & Toubro Ltd, comes when other power producers are also increasing their coal-based capacities to meet rising electricity demand.
The transaction was at an enterprise value of ₹6,889 crore and included ₹2,733 crore of net debt.
The deal should help Torrent expand to North India. Nabha Power operates a 1.4 gigawatt (GW) coal-based plant in Punjab, which can be expanded by 0.8GW with the available infrastructure.
This story is from the February 20, 2026 edition of Mint Mumbai.
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