Torrent Power Limited has announced the sale of its equity stake in UNM Foundation to its holding company, marking a strategic restructuring within the corporate group. The power company disclosed this transaction to stock exchanges on March 30, 2026, in compliance with regulatory requirements under Regulation 30 of SEBI LODR.

Transaction Details

The sale involved 50,000 equity shares of UNM Foundation, each carrying a face value of ₹10.00. The total consideration for the transaction amounted to ₹5,00,000, with the shares being transferred to Torrent Investments Limited, which serves as the holding company and promoter of Torrent Power Limited.

Regulatory Compliance

The company has classified this as a related party transaction conducted at arm's length, as required under SEBI regulations. Since the shares were sold to the holding company, no formal sale agreement was entered into for this internal group restructuring. The disclosure was made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

About UNM Foundation

UNM Foundation operates as a Section 8 company, which indicates its non-profit status under Indian corporate law. The company disclosed that UNM Foundation does not generate revenue or turnover, consistent with its Section 8 classification. This transaction represents a complete divestiture of Torrent Power's stake in the foundation.

Corporate Structure Impact

The sale consolidates UNM Foundation's ownership within the promoter group structure, with Torrent Investments Limited now holding the equity stake previously maintained by the power company subsidiary. This internal reorganization does not involve external parties and maintains the foundation within the broader Torrent corporate ecosystem.

Torrent Pharmaceuticals Limited has received a corrigendum order from the National Company Law Tribunal (NCLT) Ahmedabad Bench and has now scheduled an equity shareholders meeting to consider the proposed amalgamation with J.B. Chemicals & Pharmaceuticals Limited. The company filed official communications on March 28, 2026, announcing the NCLT-directed meeting scheduled for April 28, 2026.

NCLT Order and Meeting Schedule

Following the NCLT Ahmedabad Bench order dated March 23, 2026, and subsequent corrigendum order dated March 24, 2026, Torrent Pharmaceuticals has scheduled a crucial shareholders meeting. The meeting will be conducted through video conferencing/other audio-visual means on Tuesday, April 28, 2026, at 10:00 a.m. (IST).

Remote E-Voting Schedule

Equity shareholders will have the opportunity to participate through remote e-voting facility prior to the meeting. The company has established a comprehensive voting timeline to ensure maximum participation in the amalgamation approval process.

Official Communications and Compliance

Torrent Pharmaceuticals filed intimations with both BSE Limited and National Stock Exchange of India Limited on March 28, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Chintan M. Trivedi, Company Secretary, and included newspaper publication details in Indian Express (English) and Sandesh (Gujarati) editions.

Amalgamation Structure and Tribunal Appointments

Under the proposed Scheme of Amalgamation, J.B. Chemicals & Pharmaceuticals Limited will serve as the transferor company, while Torrent Pharmaceuticals Limited will act as the transferee company. The NCLT has appointed key officials to oversee the meeting proceedings, ensuring proper governance and compliance.

Shareholder Participation Guidelines

Shareholders whose names appear in the register of members or beneficial owners as on the cut-off date will be entitled to vote on the amalgamation proposal. The company has made arrangements for both physical and electronic copies of meeting notices, with detailed instructions available on the company website and stock exchange platforms. Physical attendance has been dispensed with due to the video conferencing format, and proxy appointments are not available for this meeting.