Alivus Life Sciences acquires 9.21% stake in Torrent Urja 19 for Rs. 14.04 crores

Alivus Life Sciences has acquired a 9.21% stake in Torrent Urja 19 Pvt Ltd, a solar and renewable energy SPV, for Rs. 14.04 crores, against a planned equity investment of up to Rs. 16 crores.

Wed 7 Oct 2026

Stake Acquired

9.21% stake in Torrent Urja 19 Pvt Ltd

Investment Amount

Rs. 14.04 crores

Planned Investment

up to Rs. 16 crores

Alivus Life Sciences has acquired a 9.21% stake in Torrent Urja 19 Private Limited, a special purpose vehicle set up for solar and other renewable energy projects.

What was announced

• The company says the stake was acquired according to the terms of the Share Purchase cum Subscription Shareholders' Agreement and the Power Supply Agreement it had entered into with the SPV, first intimated on April 2, 2025.
• The target, Torrent Urja 19 Private Limited, is a subsidiary of Torrent Green Energy Private Limited and was incorporated on 6 August 2024 in India.
• Its business covers generating, accumulating, storing, transmitting, distributing and supplying electrical power from solar energy and other renewable sources, in both grid-connected and off-grid mode.
• Its turnover has been Nil for the last three years, and Nil as of 31st March 2026.

The money involved

• The company will invest up to an amount not exceeding Rs. 16 Crores by way of investment through Equity.
• Out of this, Rs. 14.04 Crores has been invested in this transaction, resulting in the company subscribing to 9.21% of the paid up equity share capital of the SPV.
• The consideration is cash.

Why the company says it is doing this

• It is in line with the company's commitment to become carbon neutral by 2030.
• The investment is expected to enhance the share of renewable power in its operations.
• Holding the stake enables the company to invest in renewable energy and comply with the regulatory requirement for being a captive user under Indian electricity laws, specifically the provisions of the Electricity Act, 2003.

Other points in the disclosure

• The acquisition does not fall within the purview of related party transactions.
• The promoter of the company, Nirma Limited, has entered into a similar Power Supply Agreement and Share Purchase cum Subscription Shareholders' Agreement with Torrent Urja 19 Private Limited, and has acquired a 16.99% stake in it.
• No governmental or regulatory approvals are required for the acquisition.

How to read this

This is an equity investment into a renewable energy SPV rather than a step into the company's main line of business, and the company has set out the amount invested, the stake taken and the stated purpose. Two things a reader may note for context are that the target's turnover has been Nil and that the investment is aimed at captive power and the company's carbon-neutral target.

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