Torrent Power Limited, through its wholly-owned subsidiary Torrent Green Energy Private Limited (TGEPL), has announced the acquisition of a 100% equity stake in Onix-One Enersol Private Limited. The transaction involved the purchase of 10,000 equity shares at a face value of ₹10 each for a total cash consideration of ₹1,00,000 from sellers Nikhil Hareshbhai Savaliya and Divyeshkumar Mansukhlal Savaliya. This acquisition, completed on March 20, 2026, makes Onix-One Enersol a step-down subsidiary of Torrent Power.

The acquisition is a strategic move to bolster Torrent Power’s presence in the renewable energy sector. Onix-One Enersol, incorporated on July 31, 2023, reported a turnover of ₹19.44 Crore for FY 2024-25, showing significant growth from ₹2.07 Crore in FY 2023-24. The acquisition was executed at a price based on the face value of the shares, reflecting a straightforward entry into the entity’s operations which are centered around power and energy solutions.

Torrent Power Limited is a leading integrated power utility in India, with operations spanning generation, transmission, and distribution across states like Gujarat, Maharashtra, and Uttar Pradesh. In 2025, the company has been active in expanding its green energy footprint, including progress on a 1,500 MW pumped storage project in Maharashtra and various solar and wind initiatives. The company recently reported that its distribution loss of 3.33% for FY 2024-25 is among the lowest in the country, maintaining a high power availability of 99.9%.

For the quarter ended December 31, 2025, Torrent Power reported consolidated revenue of ₹6,778 Crore, representing a year-on-year (YoY) increase of 4.28% compared to ₹6,499 Crore in the corresponding quarter of the previous year. However, net profit for the same period stood at ₹655 Crore, which was a jump of approximately 35.2% YoY from ₹489 Crore. Major institutional investors in the company as of late 2025 include the Life Insurance Corporation of India (LIC), which holds approximately 3.17%, and SBI Funds Management Limited with an 8.57% stake.