Torrent Power Expanding Its Distribution Presence: Motilal Oswal
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Motilal Oswal Report
Torrent Power Ltd. has emerged as the highest bidder for the acquisition of 51% stake in distribution companies (DISCOMs) of the Union Territories of Daman & Diu and Dadra & Nagar Haveli.
The takeover would be subject to completion of certain formalities, as per the management.
The move does not catch us by surprise and is in line with the management’s strategy of increasing its presence within the distribution space.
With a healthy Balance Sheet (net debt-to-equity less than one time) and strong expertise, the company is well armed to capitalize on privatization opportunities within this space.
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