Atul Ltd Acquires 26.30% Stake in Torrent Urja 39 Pvt Ltd for ₹ 13.86 Cr
Filing Summary
Atul Ltd has announced the acquisition of a 26.30% equity stake in Torrent Urja 39 Pvt Ltd (TUPL) for an aggregate consideration of up to ₹ 13.86 crore. This transaction is structured to occur in one or more tranches. The acquisition is intended to fulfill regulatory requirements for Atul Ltd to become a “captive user” of a hybrid wind-solar power plant being developed by TUPL in Gujarat. The acquisition is expected to be completed within 14 to 16 months, with the consideration being paid in cash.
On December 13, 2025, Atul Ltd announced its decision to acquire a 26.30% equity stake in Torrent Urja 39 Pvt Ltd (TUPL) for an aggregate consideration of up to ₹ 13.86 crore. This acquisition will be executed in one or more tranches. The transaction is in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
TUPL is a wholly-owned subsidiary of Torrent Green Energy Pvt Ltd and is a special purpose vehicle formed for setting up a captive power project in Gujarat. The acquisition is aimed at meeting the regulatory requirements for Atul Ltd to become a “captive user” of the hybrid wind-solar power plant being developed by TUPL. The plant is located in the state of Gujarat, and the acquisition is expected to be completed within 14 to 16 months.
The consideration for the acquisition will be paid in cash. TUPL will issue 1,38,60,000 class A equity shares at an issue price of ₹ 10 per share to Atul Ltd, amounting to a total consideration of ₹ 13.86 crore. The acquisition does not fall within related party transactions, and neither the promoter nor the promoter group of Atul Ltd has any interest in TUPL.
TUPL is involved in the generation and transmission of hybrid energy, including wind, solar, and other renewable sources. The company was incorporated on March 19, 2025, and is registered with the Registrar of Companies, Gujarat at Ahmedabad. TUPL has not yet commenced its business operations and currently reports nil turnover.
Atul Ltd is a diversified company engaged in the manufacturing of chemicals and other products. The company focuses on expanding its business operations and meeting regulatory requirements to enhance its operational capabilities. The acquisition of a stake in TUPL aligns with Atul Ltd’s strategic priorities in the renewable energy sector.