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TU32 was incorporated in India and registered with the registrar of companies, Gujarat, at Ahmedabad on 12 February 2025 and is yet to commence its business operations, it added. According to an exchange filing, TU32 has been incorporated with the objective of engaging in a wide range of activities, including the manufacture, processing, refinement, and trade of hydrogen, its by-products, and derivatives like ammonia, chemicals, compressed natural gas, and mineral substances. Additionally, TU32 will be involved in the generation, transmission, distribution, procurement, sale, and trading of power, hydrogen, and renewable energy sources such as green, non-conventional, and hydropower. The acquisition cost for TU32 is Rs 5,00,000 (50,000 equity shares of Rs 10 each), with 100% of the equity share capital held by TGEPL. In addition to TU32, TGEPL has incorporated three more special purpose vehicles (SPVs): Torrent Urja 33, Torrent Urja 34, and Torrent Urja 36, also aimed at generating electricity from renewable sources. These SPVs are wholly owned subsidiaries of TGEPL, which is itself a wholly owned subsidiary of Torrent Power. The SPVs were incorporated in India and registered with the Registrar of Companies, Gujarat, at Ahmedabad on 24 February 2025, and are yet to commence operations. Similar to TU32, the acquisition cost for each SPV is Rs 5,00,000 (50,000 equity shares of Rs 10 each), with 100% of the equity share capital held by TGEPL. 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 32.19% to Rs 475.66 crore in Q3 FY25 as against Rs 359.83 crore posted in Q3 FY24. Revenue from operations grew by 2.09% year on year to Rs 6,499.38 crore in the quarter ended 31 December 2024. Powered by Capital Market - Live News
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