Torrent Pharmaceuticals Limited today announced that it has entered into a Share Subscription and Shareholders’ Agreement to subscribe to 26% equity shares of Torrent Urja 27 Private Limited. The investment, amounting to ₹7.92 crore, is aimed at setting up a captive hybrid (solar + wind) power project in Gujarat. This move is part of the Company’s efforts to increase the share of renewable energy in its operations.
Torrent Urja 27 Private Limited is a special purpose vehicle, currently a wholly owned subsidiary of Torrent Green Energy Private Limited, formed specifically for developing captive power projects. The company was incorporated on 6th August 2024 and has not yet commenced commercial operations.
The acquisition falls under related party transactions, as Torrent Urja is a step-down subsidiary of Torrent Pharmaceuticals’ holding company, and is being carried out on an arm’s length basis. The project is expected to be completed within 18–20 months, with the investment made entirely in cash.
