{"id":54948,"date":"2026-02-20T12:04:56","date_gmt":"2026-02-20T12:04:56","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&#038;p=54948"},"modified":"2026-02-20T12:05:49","modified_gmt":"2026-02-20T12:05:49","slug":"saraf-and-partners-advised-larsen-toubro-power-development-limited-lt-power-a-wholly-owned-subsidiary-of-larsen-and-toubro-lt-on-the-landmark-divestment-of-its-1400-mw-2x700-mw-t","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/saraf-and-partners-advised-larsen-toubro-power-development-limited-lt-power-a-wholly-owned-subsidiary-of-larsen-and-toubro-lt-on-the-landmark-divestment-of-its-1400-mw-2x700-mw-t\/","title":{"rendered":"Saraf and Partners advised Larsen &amp;Toubro Power Development Limited (L&amp;T Power), a wholly owned subsidiary of Larsen and Toubro (L&amp;T) on the landmark divestment of its 1400 MW (2X700 MW) thermal power asset (Nabha Power Limited) in Punjab to Torrent Power Limited."},"content":{"rendered":"<p><strong>Saraf and Partner&#8217;s Projects, Infrastructure and Energy team acted as the counsel for Larsen &amp; Toubro Power Development Limited (L&amp;T Power), a wholly owned subsidiary of Larsen &amp; Toubro (L&amp;T), on the divestment of its 1400 MW thermal power asset in Punjab, a supercritical coal based plant with twin 700 MW units (Nabha Power Plant), for the enterprise value of INR 6,889 Crores to Torrent Power Limited. The Nabha Power Plant currently has a long-term power purchase agreement with Punjab State Power Corporation Limited.<\/strong><\/p>\n<p><!--more--><\/p>\n<p>The transaction involves sale of 100% equity and convertible instruments of Nabha Power Limited (<strong>NPL<\/strong>) by L&amp;T Power to Torrent Power Limited subject to regulatory approvals. Saraf and Partners advised L&amp;T Power in structuring the transaction and drafting, reviewing, finalisation and execution of securities purchase agreement.<\/p>\n<p>The divestment of NPL aligns with L&amp;T\u2019s strategic objective of unlocking value to strengthen its robust core businesses. This move positions L&amp;T to create long-term value for its stakeholders, business partners, shareholders and employees.<\/p>\n<p>The transaction team for L&amp;T Power was led by Avirup Nag (Partner) and Ankit Sahoo (Partner Designate) along with Asima Ghosh (Senior Associate), Ashwini Panwar ( Associate) and Paritosh Bisen (Associate).<\/p>\n<p>&nbsp;<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-54948","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/54948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=54948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}