Torrent Power incorporates wholly-owned subsidiary TU14 to carry biz in power sector

Torrent Power has incorporated its wholly-owned subsidiary Torrent Urja 14 Pvt Ltd (TU14) to carry out businesses, including power generation, transmission, distribution and trading. "TU14 is incorporated with object to carry on the business of generation, transmission, distribution, purchase, procurement, sale, trading, import, export or otherwise deal in all forms of electrical power and energy including non-conventional and renewable sources of energy," a BSE filing stated.

TU14 is a wholly-owned subsidiary of the company. It was incorporated in India and registered with the Registrar of Companies, Gujarat at Ahmedabad on May 11, 2023 but is yet to commence business operations.

Its authorised and paid-up share capital is Rs 1 lakh. Torrent Power owns 100 per cent equity in the TU14.