What was filed
Larsen & Toubro has told the exchanges that the sale of Nabha Power Limited (NPL) is complete. The transaction was carried out by L&T Power Development Limited (L&T PDL), a wholly owned subsidiary, which had earlier signed a Securities Purchase Agreement with Torrent Power Limited — first intimated on February 16, 2026 — to divest all of the equity and convertible instruments it held in NPL. With the closing, NPL has ceased to be a subsidiary of both L&T PDL and the Company.
The consideration and a retained instrument
On completion, L&T PDL received the consideration stated in the filing, after adjustments at closing. One exposure continues: L&T PDL will retain a block of 0.1% Non-Convertible Redeemable Preference Shares in NPL, recorded in Nabha Power's books as on March 31, 2026. So while operating control and equity pass to Torrent, a small preference-share holding stays on L&T's side.
Why it matters to a holder
The completion converts a signed agreement into a realised exit, bringing cash into L&T PDL and removing NPL from the group's consolidation perimeter. The filing confirms only the closing, the consideration received, and the retained preference shares — it does not discuss the use of proceeds or any accounting impact.