L&T Power Development Completes Divestment of Nabha Power Limited Equity
Larsen & Toubro Limited's wholly owned subsidiary, L&T Power Development Limited (L&T PDL), has successfully completed the divestment of its interest in Nabha Power Limited (NPL). The transaction involved the sale of 100% of the equity and convertible instruments held by L&T PDL in NPL.Following the closing of the transaction, L&T PDL received a consideration of ₹ 3,632.35 crores for the divestment, which accounts for adjustments made at the time of closing. This sale concluded the initial ownership stake previously held by L&T PDL in Nabha Power Limited.
While the bulk of the equity was divested, L&T PDL retains a residual interest in NPL. The company continues to hold 2,32,50,00,000, 0.1% Non-Convertible Redeemable Preference Shares in Nabha Power Limited. These shares were recorded in NPL's books of accounts as of March 31, 2026, at a value of ₹ 157.92 crores.
The divestment means that NPL has ceased to be a subsidiary of L&T PDL and Larsen & Toubro Limited, effective immediately following the completion of the sale.
LT Stock Price Movement
Larsen & Toubro Limited saw its stock rise on Thursday, closing at ₹4216.4 following a 0.49% gain. The shares traded within an intraday range of ₹4187.1 and ₹4272.3, with a total volume recorded of 3.10 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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