Torrent Power's New Subsidiary: Torrent Urja 28 Launched

Torrent Power has announced the creation of a new subsidiary, Torrent Urja 28, through its arm Torrent Green Energy Private Ltd. The incorporation has been confirmed by the Ministry of Corporate Affairs. The acquisition cost totals Rs 5,00,000, with operations expected to commence shortly.

Torrent Power, a prominent energy company, announced on Wednesday the incorporation of a new subsidiary, Torrent Urja 28. This development was facilitated by Torrent Green Energy Private Ltd, a fully-owned division of Torrent Power.

A regulatory filing disclosed that the Certificate of Incorporation for Torrent Urja 28 was issued by the Ministry of Corporate Affairs. The new subsidiary represents an expansion of Torrent Power's green energy footprint.

Torrent Urja 28, registered in Ahmedabad, Gujarat, was established with a share acquisition cost of Rs 5,00,000, equating to 50,000 equity shares priced at Rs 10 each. Although operations have not yet begun, expectations are high for future developments.

(With inputs from agencies.)