Latest news with #TorrentGroup
Time of India
3 days ago
- Business
- Time of India
Torrent Gas to consider $450 million IPO in Mumbai: Reports
India's Torrent Gas Ltd. is considering an initial public offering in Mumbai that may raise about $450 million, according to people familiar with the matter. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's Torrent Gas Ltd. is considering an initial public offering in Mumbai that may raise about $450 million, according to people familiar with the company, which is the city gas distribution unit of Torrent Group, has invited investment banks to pitch for roles in the planned share sale, said the people, who asked not to be identified because the information is private. An IPO could value Torrent Gas at around $3 billion, depending on how global trade tensions play out, they are still taking place, and details such as deal size and valuation may change, the people said, adding that the proceeds from the offering are likely to be used for capital expenditure and debt Gas didn't immediately respond to an email from Bloomberg asking for companies have raised more than $8 billion this year through IPOs, data compiled by Bloomberg show. They will probably raise $18 billion in the second half of 2025, according to estimates from Jefferies Financial Gas is authorized to develop city gas distribution infrastructure and supply compressed natural gas to vehicles as well as piped natural gas to industrial, commercial and residential users. The company holds licenses in seven Indian states and one union territory, according to its website.
Bloomberg
3 days ago
- Business
- Bloomberg
Torrent Gas Is Said to Consider $450 Million IPO in Mumbai
India's Torrent Gas Ltd. is considering an initial public offering in Mumbai that may raise about $450 million, according to people familiar with the matter. The company, which is the city gas distribution unit of Torrent Group, has invited investment banks to pitch for roles in the planned share sale, said the people, who asked not to be identified because the information is private. An IPO could value Torrent Gas at around $3 billion, depending on how global trade tensions play out, they said.
Business Standard
5 days ago
- Business
- Business Standard
Torrent Power Q1 PAT slides 25% YoY to Rs 731 cr
Torrent Power reported 24.76% decline in consolidated net profit to Rs 731.44 crore in Q1 FY26 as against Rs 972.24 crore posted in Q1 FY25. Revenue from operations also dropped 12.47% year-on-year (YoY) to Rs 7,906.37 crore in the quarter ended 30 June 2025. Profit before tax stood at Rs 985.34 crore in Q1 FY26, reflecting a 25.04% decline from Rs 1,314.65 crore recorded in Q1 FY25. During the quarter, the companys EBITDA fell by 18% to Rs 1,588 crore, down from Rs 1,934 crore in the corresponding quarter of the previous fiscal. On the segmental front, revenue from generation was at Rs 2,488.51 (down 32.33% YoY), revenue from transmission and distribution stood at Rs 6,534.01 crore (down 5.77% YoY), and revenue from renewables stood at Rs 369.35 crore (up 20.14% YoY) during the period under review. The company stated that, while its core business remain resilient, the performance for the quarter was adversely impacted by reduced power demand following the early onset of the monsoon and elevated gas prices, which affected merchant gains from gas-based generation. However, when adjusted for these temporary factors, Total Comprehensive Income (TCI) remained comparable to the same quarter last year. Torrent Power highlighted improved contributions from the renewable energy segment, driven by the addition of solar capacity and favorable wind conditions, which resulted in better plant load factors. Furthermore, after excluding the impact of one-time tariff order income in the previous year, the company recorded improved operational performance in its distribution business, contributing to higher underlying profitability. Torrent Group is one of the largest companies in Indias power sector, with a presence across the entire power value chain generation, transmission, and distribution. The scrip shed 0.34% to Rs 1,309 on the BSE.
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Business Standard
6 days ago
- Business
- Business Standard
Torrent Power Q1 results: Profit drops over 25% to ₹742 cr on lower demand
Torrent Power on Tuesday reported over 25 per cent dip in consolidated net profit to Rs 741.58 crore in the June quarter due to lower revenues from generation as well as transmission & distribution businesses over lower electricity demand. It reported a consolidated net profit of Rs 996.34 crore in the year-ago period, a BSE filing showed. Total income declined to Rs 8,011.04 crore during the quarter from Rs 9,110.02 crore in the same period a year ago. The company explained that while the company's underlying business remains resilient, the performance during the quarter was particularly impacted due to lower power demand following the early onset of monsoon and elevated gas prices, impacting merchant gains from gas-based generation. Adjusted for these, total comprehensive income remained comparable to the same quarter last year. The company remains well-positioned to navigate cyclical variations, supported by its diversified business operations, it stated. Torrent Power, the Rs 29,165 crore integrated power utility of about Rs 45,000 crore Torrent Group, is one of the largest companies in the country's power sector with presence across the entire power value chain -- generation, transmission, and distribution. The company has an aggregate installed generation capacity of 4,881 MWp comprising 2,730 MW of gas-based capacity, 1,789 MWp of renewable capacity and 362 MW of coal-based capacity. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
India.com
11-06-2025
- Business
- India.com
Not RCB, THIS IPL champion team sold stake for Rs 50000000000, new owners are…
RCB owners Diageo India have denied speculation that they are planning to sell stake in team in a letter to Bombay Stock Exchange. "The company would like to clarify that the aforesaid media reports are speculative in nature and it is not pursuing any such discussion," Mital Sanghvi, the company secretary, informed the regulating body of the Indian Stock Market. "This is for your information and records." RCB became IPL champions after a wait of 18 years. Virat Kohli's RCB defeated PBKS by 6 runs in the IPL 2025 final last week. Gujarat Titans owners CVC sold 67 per cent stake in IPL team to Torrent Group ahead of IPL 2025 season this year. Image credit: X (Formerly Twitter) Torrent Group paid over Rs 5000 crorefor 67 per cent share in Gujarat Titans. This strategic partnership between one of India's leading Business Groups and a globally renowned Private Equity firm, is the first of its kind in India's sports sector and will unlock exciting opportunities for growth and collaboration. Gujarat Titans had won the IPL title on debut in 2021 under the captaincy of Hardik Pandya. GT had defeated Rajasthan Royals in the final. Shubman Gill's GT had reached IPL 2025 Playoffs. Gujarat Titans lost to Mumbai Indians in the IPL 2025 Eliminator match. RCB has been reportedly valued at over $2 billion after IPL 2025 win, according to a report in Bloomberg. The report of sale is of course speculative as mentioned by the Diageo official in his reply to the BSE. "No decision is final and they may decide against selling the team, the people said, asking not to be named as the details are private," the Bloomberg report says.
