Tata Teleservices (Maharashtra) Limited — Important, 23-01-2025: Updates

The Board of Directors has approved an investment of approximately Rs. 5.3 Crore for acquiring a 26% stake in P&T Renewable Energy Private Limited, a newly incorporated Special Purpose Vehicle established by Prabhat Renewable Energy for setting up a Captive Solar Power Plant in Maharashtra. This strategic move aims to secure a portion of Tata Teleservices (Maharashtra) Limited’s power requirements across locations in Turbhe, Pune, Nashik, and Nagpur. The investment aligns with the company's goal of ensuring compliance with regulatory requirements for captive power consumption. Post-execution of necessary agreements, share issuance is expected within three months. This acquisition presents a promising opportunity for Tata Teleservices in the renewable energy sector, providing a positive outlook for future power reliability.