Tata’s Next Big Move? Will Tata Group Acquire the Remaining Stake in Resurgent Power?

Tata’s Next Big Move: India’s leading industrial conglomerate, the Tata Group, is once again making headlines. According to sources, the group is planning to acquire the remaining stake in Resurgent Power Ventures Pte from other investors. Reports suggest that Tata has already appointed a professional advisor to streamline the deal process.

What Is the Current Investor Structure?

At present, three major investors collectively own 74% of Resurgent Power:

1. ICICI Venture Funds Management Co.
2. Kuwait Investment Authority (KIA)
3. Oman Investment Authority (OIA)

The remaining 26% stake is held by Tata Power. Sources familiar with the matter suggest that these three investors value the company at approximately $2.1 billion (roughly ₹17,500 crore, including debt). Discussions are ongoing based on this valuation.

What Is the Status of the Deal?

The acquisition is currently in early-stage discussions. All talks are strictly confidential, and none of the parties have officially confirmed the development. Tata Power, ICICI Venture, and OIA have declined to comment, while KIA has outright refused to respond.

At this stage, confirming any deal would be premature as negotiations are still in their initial phase.

About Resurgent Power

Resurgent Power is an emerging player in India’s power sector. It holds approximately 75% stake in Prayagraj Power Generation Company, one of North India’s major power generation projects. Additionally, it operates several power transmission projects across various parts of Northern India.

According to ICICI Venture, Resurgent Power’s assets are financially robust and have the potential to deliver sustainable long-term returns.

History of Investment

The Kuwait Investment Authority (KIA) and the Oman Investment Authority (OIA) invested in Resurgent Power in 2019 by purchasing their stake from a subsidiary of the Canadian investment firm Caisse de dépôt et placement du Québec (CDPQ).

Later in 2020, Oman’s two major investment bodies — the State General Reserve Fund (SGRF) and the Oman Investment Fund — merged to form OIA, which now holds the stake in Resurgent Power.

What Is Tata Group’s Strategy?

The Tata Group views this potential acquisition as part of its long-term strategy to strengthen its presence in the power sector. With India’s electricity demand on the rise, Tata Power is already active in solar, wind, and thermal energy segments.

If the deal materializes, Resurgent Power would become a wholly owned subsidiary of Tata Power. This would not only boost Tata’s generation capacity, but also offer direct benefits in transmission infrastructure and regional expansion.

This acquisition could mark a strategic milestone for the Tata Group and potentially bring about a major shift in the Indian power sector. While foreign investors seem inclined to exit, the Tata Group is viewing this as a long-term growth opportunity.

Though the deal is not yet finalized, if it goes through, it will likely solidify Tata’s position in the energy domain and offer long-term stability to Resurgent Power.