Torrent Power

Torrent Power on Friday said it has raised Rs 3,500 crore by issuing 2.32 crore equity shares at Rs 1,503 per piece through a Qualified Institutional Placement (QIP). Pursuant to the allotment of equity shares in the issue, the company's paid-up equity share capital has increased from Rs 480.62 crore, comprising 48,06,16,784 equity shares of Rs 10 each, to Rs 503.90 crore, comprising 50,39,03,543 equity shares of Rs 10 each, a BSE filing said. Fund Raising Committee of the Board at its meeting held on December 5, 2024, approved the issue and allotment of 2,32,86,759 equity shares to the eligible qualified institutional buyers at the issue price of Rs 1,503 per equity share (including a premium of Rs 1,493 per equity share) which is at a discount of Rs 52.75 per equity share i.e. 3.40 per cent to the floor price of Rs 1,555.75 per equity share to approximately Rs 3,500 crore following the Issue. In July this year, shareholders of the company approved the proposal to raise up to Rs ..

On Monday, after market hours, Torrent Power's board gave the nod to raise up to Rs 5,000 crore through QIP

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Torrent Power on Monday announced the opening of equities on qualified institutional placement (QIP) basis at a floor price of Rs 1,555.75 apiece as part of its plan to raise up to Rs 5,000 crore in one or more tranches. The company did neither disclosed the number of shares to be issued nor the total issue size. However, there are speculations that the issue size is expected to range between Rs 3,500 crore and Rs 5,000 crore. The fund raising committee of the board, at its meeting held on December 2 has, inter alia, considered and approved authorising the opening of the issue today, Torrent Power said in a stock exchange filing. According to the company, the committee also approved the floor price for the issue at Rs 1,555.75 per equity share, based on the pricing formula prescribed by capital market regulator SEBI. In July this year, shareholders of the company had approved the proposal to raise up to Rs 5,000 crore through the issuance of equity shares and/or foreign currency .

Torrent Power shares slipped 5 per cent to Rs 1,507 and were trading at the lowest level since July 25, 2024.

Torrent Power on Wednesday reported about 9 per cent dip in consolidated net profit to Rs 495.72 crore in the September quarter compared to the year-ago period as extended monsoon season curbed electricity demand and capacity utilisation of renewables. The company had a consolidated net profit of Rs 542.55 crore in the quarter ended on September 30, 2023, a BSE filing showed. Total income increased to Rs 7,300.51 crore in the period under review from Rs 7,069.11 crore a year ago. Total expenses rose to Rs 6,611.83 crore in the quarter from Rs 6,328.44 crore in the same period a year ago. The company stated that the increase in contribution from licensed distribution businesses was offset by lower contribution from thermal generation mainly on account of reduced sale of merchant power (including sale of LNG) due to lower electricity demand in the current quarter on account of extended and heavy Monsoon against comparable quarter last year. Lower contribution from renewable businesse

Torrent Power secured a LoA from Maharashtra State Electricity Distribution (MSEDCL) and inked a share subscription and shareholders' agreement (SSSA) with Lakshmi Mills and Torrent Urja 17 Private Li

Torrent Power on Tuesday said it has secured a contract from the Maharashtra government to supply 2,000 megawatt energy storage capacity from its upcoming plant in the state. In a statement, Torrent Power said it has received the order for an additional 500 MW capacity supply in addition to 1,500 MW awarded last month, taking the total supply order to 2,000 MW capacity. "...received letter of award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for long-term supply of 2,000 Megawatt (MW) Energy Storage Capacity from InSTS connected pumped hydro storage plant," the company said. MSEDCL will procure energy storage capacity from Torrent Power's InSTS (intra state transmission) connected pumped hydro storage for a period of 40 years. The company plans to supply the storage capacity from its upcoming storage plant in Maharashtra. Torrent Power said it has also identified Pumped Storage Project (PSP) sites in several other states. The company has earlier announ

Morgan Stanley has revised its stance on 6 utility stocks from Tata Power, Torrent Power to Suzlon Energy

The northward move in Torrent Power shares came on the back of the news that the company has received a Letter of Intent from Maharashtra State Electricity Distribution Company (MSEDCL)

Torrent Power on Tuesday said it has bagged a 1,500 MW pumped hydro storage project (PSP) from Maharashtra State Electricity Distribution Co. Ltd. Torrent Power Ltd has emerged as a successful bidder and has received Letter of Intent (LOI) from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) on 17th September 2024 for procurement of 1,500 MW/12,000 MWh Energy Storage Capacity from Pumped Hydro Storage Project, the company said in a statement. Detailed letter of award will be issued by MSEDCL upon obtaining necessary approval from the Maharashtra Electricity Regulatory Commission (MERC) in terms of the tender document on the quoted tariff, it said. The pumped hydro storage project will supply power to MSEDCL for 40 years as part of the deal, it said. Under the Pumped Hydro Energy Storage Facility Agreement (PHESFA), the company shall make available to MSEDCL a contracted capacity of 1,500 MW capable of scheduled discharge of eight hours (with maximum continuous five hour

Torrent Power share price today: The buying interest in Torrent Power shares came after the reaffirmed its commitment towards investment worth Rs 64,000 crore in green and sustainable projects

Torrent Power shares started today's trading session on a positive note and continue to trade northward on the bourses

Torrent Power on Monday pledged Rs 64,000 crore investment for green or renewable energy projects having employment potential for 26,000 people. Torrent Power Ltd, the integrated power utility of diversified Torrent Group, has reaffirmed its commitment towards green and sustainable future as it submitted two 'Shapath Patras' to the Union Ministry of New and Renewable Energy at the 4th Edition of RE-Invest at Gandhinagar on Monday, a company statement said. RE-INVEST is being organised by the Ministry of New and Renewable Energy in partnership with CII. According to the statement, the company has submitted a Shapath Patra' to achieve 10 Gigawatt (GW) of installed Renewable Energy (RE) capacity by 2030, with an investment of Rs 57,000 crore. This investment is expected to generate direct and indirect employment for around 25,000 people. As part of these commitments, Torrent Power on Monday signed a Memorandum of Understanding (MoU) with the Gujarat government for execution of a 5 GW

Torrent power has moved the appellate tribunal NCLAT against the approval of Sarda Energy and Mining's resolution plan for the debt-ridden SKS Power Generation. Earlier on August 13, the Mumbai-based bench of the National Company Law Tribunal (NCLT), while approving Sarda Energy and Mining's (SEML) bid, had rejected applications, including of Torrent Power, to acquire SKS Power Generation (Chhattisgarh). Torrent Power had raised objections over the selection process, terming it to be discriminatory, and contended that it has proposed the highest upfront payment. The Torrent group firm also sought a copy of the approved plan, which was rejected by the NCLT. The order has now been challenged by Torrent Power before the Delhi-based bench of the National Company Law Appellate Tribunal (NCLAT). Torrent Power's petition is scheduled for hearing on Tuesday before a three-member bench of the NCLAT headed by its Chairperson Justice Ashok Bhushan. Corporate Insolvency Resolution Process (CI

Stock price of Torrent Power is on the verge of breaking out from falling wedge pattern on daily chart. On 31 st July 2024, Stock Price broke out with jump in volumes

Torrent Power share price today: In the past one year, the market price of Torrent Power has zoomed 161 per cent

Heatwaves and increasing economic activity have resulted in India's electricity generation growing at an average of about 8 per cent annually following the pandemic

The rise in the stock price came after Torrent Power entered into a deal with ARS Steels & Alloy International and Torrent Urja 14 for setting up 50 MWp solar projects in Tamil Nadu (TN)

Torrent Power's subsidiary Torrent Urja 14 (TU14) will set up solar projects of up to 50 MW to supply clean power to ARS Steels & Alloy International (ARS), a BSE filing said on Monday. As per the Subscription and Shareholders' Agreement (SSSA) signed on Monday, ARS will also have an equity stake in the TU14 -- an arm of Torrent Power. The SSSA has been signed by Torrent Power, ARS and TU14 for the supply of power from by development of up to 50 MWp solar power generating projects in Tamil Nadu through open access from the project of TU14 to the production units of ARS," the filing said. "Significant terms of SSSA include that ARS shall at all times during the subsistence of the power supply and offtake agreement hold not less than 26 per cent of the aggregate equity shares of TU14," Torrent Power said. Torrent Power is into generation, transmission and distribution of power. The company is also engaged in the manufacturing and supply of power cables.