Torrent Power announced successful completion of its Rs 3,500 crore (approx. USD 413.20 million) Qualified Institutions Placement (QIP). The issue garnered significant response from investors including domestic mutual funds, global investors and insurance companies, demonstrating their strong confidence in the Company's fundamentals and India's power sector. The QIP saw a very strong demand of approximately 4x the size of the issue (receiving bids of about Rs. 14,000 Crores) against the base issue size of Rs 3,500 Crores from a mix of international and domestic investors. The entire issue was placed with marquee long only investors such as SBI MF, Capital Group, SBI Pension, Kotak MF, Nippon MF, Norges Bank and Amundi. This marks the maiden equity raise by the Company and first equity raise in last three decades by the Torrent Group. Torrent Power's QIP is one of the largest fund raise conducted by a private utility player in India during the current financial year. Powered by Capital Market - Live

Torrent Power has allotted 2,32,86,759 equity shares to the eligible qualified institutional buyers at the issue price of Rs 1503 per equity share (including a premium of Rs 1493 per Equity Share) which is at a discount of Rs 52.75 per Equity Share i.e. 3.40% to the floor price of ₹ 1555.75 per equity share as determined in terms of the SEBI ICDR Regulations, aggregating to approximately Rs 3500 crore, pursuant to the QIP issue. With this allotment, the paid up equity share capital stands increased to Rs 503,90,35,430 comprising of 50,39,03,543 equity shares of Rs 10 each. Powered by Capital Market - Live

The company's board authorized and declared the opening of the issue on Monday, 2 December 2024. The floor price of Rs 1,555.75 is at a discount of 1.94% to the previous day's closing price of Rs 1,586.45 on the BSE. The company may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined by the company in consultation with the bookrunning lead manager appointed for the issue. Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission, and distribution. The company's consolidated net profit slipped 8.63% YoY to Rs 495.72 crore in Q2 FY25 over Q2 FY24. Revenue from operations grew by 3.09% YoY to Rs 7,175.81 crore in the quarter ended 30 September 2024. Powered by Capital Market - Live

Torrent Power has opened today a qualified institutional placement (QIP) issue of equity shares of face value of Rs 10 each at the floor price of Rs 1555.75 per equity share. Powered by Capital Market - Live

Torrent Power Ltd lost 1.94% today to trade at Rs 1591.25. The BSE Utilities index is down 0.7% to quote at 5559.38. The index is down 8.31 % over last one month. Among the other constituents of the index, Adani Green Energy Ltd decreased 1.39% and CESC Ltd lost 1.32% on the day. The BSE Utilities index went up 44.91 % over last one year compared to the 21.77% surge in benchmark SENSEX. Torrent Power Ltd has lost 17.31% over last one month compared to 8.31% fall in BSE Utilities index and 1.17% rise in the SENSEX. On the BSE, 1626 shares were traded in the counter so far compared with average daily volumes of 24359 shares in the past one month. The stock hit a record high of Rs 2037.35 on 22 Oct 2024. The stock hit a 52-week low of Rs 786.3 on 24 Nov 2023.Powered by Capital Market - Live

Torrent Power will hold a meeting of the Board of Directors of the Company on 13 November 2024Powered by Capital Market - Live

Marico Ltd, Divis Laboratories Ltd, Elgi Equipments Ltd, Page Industries Ltd are among the other stocks to see a surge in volumes on BSE today, 09 October 2024.Torrent Power Ltd saw volume of 1.14 lakh shares by 10:47 IST on BSE, a 4.98 fold spurt over two-week average daily volume of 22926 shares. The stock increased 6.93% to Rs.1,943.05. Volumes stood at 18544 shares in the last session.Marico Ltd recorded volume of 1.93 lakh shares by 10:47 IST on BSE, a 4.59 times surge over two-week average daily volume of 41986 shares. The stock gained 0.07% to Rs.698.00. Volumes stood at 31563 shares in the last session.Divis Laboratories Ltd notched up volume of 27951 shares by 10:47 IST on BSE, a 4.09 fold spurt over two-week average daily volume of 6830 shares. The stock rose 5.16% to Rs.5,833.00. Volumes stood at 4664 shares in the last session.Elgi Equipments Ltd notched up volume of 25768 shares by 10:47 IST on BSE, a 2.82 fold spurt over two-week average daily volume of 9146 shares. The stock rose 5.79% to Rs.678.95. Volumes stood at 6956 shares in the last session.Page Industries Ltd witnessed volume of 546 shares by 10:47 IST on BSE, a 1.91 times surge over two-week average daily volume of 285 shares. The stock increased 1.56% to Rs.42,969.95. Volumes stood at 102 shares in the last session.Powered by Capital Market - Live

Torrent Power has 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. This 2,000 MW capacity is inclusive of 1,500 MW Capacity for which Letter of Intent was already issued by MSEDCL on September 17, 2024. The Company has now received allotment of additional 500 MW capacity under the tender taking the total capacity allocated to 2,000 MW. MSEDCL will procure energy storage capacity from Torrent Power's InSTS Connected Pumped Hydro Storage for a period of 40 years. The Company plans to supply the storage capacity from its upcoming InSTS Connected Pumped Hydro Storage pumped hydro storage plant being set up in Maharashtra. Under the Energy Storage Facility Agreement (ESFA), the Company shall make available to MSEDCL a contracted capacity of 2,000 MW capable of scheduled discharge of 8 hours (with maximum continuous 5 hours) per day. The input energy for charging shall be provided by MSEDCL.Powered by Capital Market - Live

The Maharashtra State Electricity Distribution Company (MSEDCL) will procure energy storage capacity of 1,500 MW from pumped hydro storage project for a period of 40 years. Increased penetration of Solar and Wind in electricity generation will create need for energy storage solutions for providing firm, reliable and dispatchable RE power. Torrent Power has identified Pumped Storage Project (PSP) sites in multiple states. The company plans to supply the storage capacity from its upcoming pumped hydro storage plant being set up in Raigad District, Maharashtra. 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 8 hours (with maximum continuous 5 hours) per day. The input energy for charging shall be provided by MSEDCL. Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution. The company's consolidated net profit jumped 87.96% to Rs 972.24 crore in Q1 FY25 as against with Rs 517.27 crore posted in Q1 FY24. Revenue from operations grew by 23.28% year on year to Rs 9,033.73 crore in the quarter ended 30 June 2024. Powered by Capital Market - Live

Torrent Power has emerged as a successful bidder and has received Letter of Intent (LOI) from Maharashtra State Electricity Distribution Co.(MSEDCL) on 17 September 2024 for procurement of 1,500 MW/ 12,000 MWh Energy Storage Capacity from Pumped Hydro Storage Project. Detailed Letter of Award will be issued by MSEDCL upon obtaining necessary approval from Maharashtra Electricity Regulatory Commission (MERC) in terms of the tender document on the quoted tariff. MSEDCL will procure energy storage capacity of 1,500 MW from pumped hydro storage project for a period of 40 years. The Company plans to supply the storage capacity from its upcoming pumped hydro storage plant being set up in Raigad District, Maharashtra. 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 8 hours (with maximum continuous 5 hours) per day. The input energy for charging shall be provided by MSEDCL. Powered by Capital Market - Live