torrent group

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torrent group on Wednesday emerged as the highest bidder for debt-ridden Reliance Capital in the auction conducted as part of its resolution process.Ahmedabad-based torrent group submitted a bid of Rs 8,640 crore for acquiring the NBFC firm set up by the Anil Ambani Group, sources said.

Three leading healthcare companies - Cadila Pharmaceuticals (IA Modi group), Torrent Pharma and Apollo Group - have expressed interest in establishing three new medical colleges in the state via the public-private partnership (PPP) mode.

torrent group, one of Gujarat’s biggest corporate houses and having interests in power and pharmaceuticals, took a step towards distributing its businesses between brothers Sudhir and Samir Mehta.

torrent group is set to acquire around two-thirds stake of Gujarat Titans from CVC Capital Partners, valuing the deal at Rs 7,500 crore. The agreement, pending BCCI approval, will be finalized before the IPL season starts in March. The deal marks the first majority stake sale of an IPL team since 2008.

The economic slowdown has not affected deals in the city’s premium real estate space. Gujarat-based torrent group has bought 1,124 sq yards of residential property in Chanakyapuri for Rs 111 crore, at the rate of around Rs 10,00,000 per sq yard, which is the highest recorded rate in the recent past.

Riding on the steady growth in share prices of its listed companies, Ahmedabad-based torrent group’s market capitalization has touched $10 billion mark.

AHMEDABAD: “We are in this company for the long run. We are not exiting Ahmedabad Electricity Company,” contends the official spokesperson of torrent group, the promoters of AEC.

Ahmedabad-based torrent group has acquired a 67% controlling stake in IPL franchise Gujarat Titans, previously fully owned by CVC Capital Partners. Despite the transfer, CVC retains a 33% minority stake. Torrent aims to enhance the team's operations and growth. Founded in 2022, the franchise plays at Narendra Modi Stadium and has quickly become successful in the league.

torrent group has acquired a 67% stake in IPL franchise Gujarat Titans for Rs 5,000 crore, with CVC Capital Partners retaining 33%. The acquisition will be funded internally, and Torrent is considering further investments in other sports leagues. Torrent aims to enhance fan experience and continue its aggressive expansion across sectors.

torrent group’s integrated power utility, Torrent Power Limited announced on Tuesday that it has signed an agreement with the government of Maharashtra for three pumped storage hydro projects of 5,700 megawatt (MW) capacity. Torrent Power, which is a prominent player in renewables, is now entering into storage solutions, with an investment of Rs 27,000 crore.

Ahmedabad-based drug-to-power firm Torrent has bought a bungalow in a tony part of Delhi's central diplomatic enclave for Rs 10 lakh per yard, creating a record for the most expensive real estate deal in the city.

Torrent Power will buy a 51% stake in Dadra and Nagar Haveli and Daman and Diu Power Distribution Corporation as it looks to strengthen its power distribution play in the country.

torrent group, one of Gujarat’s biggest corporate houses with interests in power and pharmaceutical, has divided its businesses between the two promoter brothers — Sudhir and Samir Mehta.

torrent group expands into sports by acquiring a 67% stake in IPL franchise Gujarat Titans. The purchase indicates a significant move into India's growing sports industry. Torrent aims to enhance the fan experience and build a lasting legacy, while CVC retains a 33% stake and reflects on previous successes with the IPL team.

Torrent Gas Ltd plans to invest Rs 8,000 crore over the next five years for creating city gas distribution (CGD) infrastructure. The company also aims to set up 500 compressed natural gas (CNG) stations by March 2023.

The committee of creditors will meet on Tuesday to discuss fresh resolution plans submitted by Torrent and Hinduja groups under the bankruptcy process. Sources say that an immediate decision is unlikely as torrent group has threatened legal action if creditors consider any bid after the completion of the process. Torrent had emerged as the highest bidder in an auction conducted by the lenders where they sought challenger bids to an earlier round where the Piramalcosmea combine had emerged the top bidder. Piramalcosmea had kept away from the challenger round objecting to the lenders’ move to hike the base price arbitrarily. In the challenger round, Torrent submitted a resolution plan with a net present value NPV of Rs 8640 crore while Hinduja’s NPV was Rs 8110 crore after the auction. Hinduja submitted a revised resolution plan with an NPV of over Rs 9000 crore in the past creditors have accepted offers made after the bidding process but before the voting.

A group of people have come up with bids for a company that is in bankruptcy, and the highest bid is for Rs. 8000 crore from the torrent group. The two other bids are for Rs. 8100 crore from the Hindujas, and Rs. 8600 crore from the torrent group

Torrent Gas Limited, the city gas distribution arm of the Ahmedabad-based torrent group, has planned to invest Rs 3,300 crore by fiscal 2026 for the development of CGD network in Uttar Pradesh.

torrent group has elevated Varun Mehta as a director of its power arm. The move comes 10 days after the induction of Aman Mehta into the board of its pharma company.

torrent group has elevated Varun Mehta as a director of its power arm. The move comes 10 days after the induction of Aman Mehta into the board of its pharma company.

torrent group has elevated Varun Mehta as a director of its power arm. The move comes 10 days after the induction of Aman Mehta into the board of its pharma company.

The tribute couldn't have been better for torrent group founder late UN Mehta, who passed away on the same day in 1999.