Tata Power Company, RITES and Manba Finance to see some action today

Tata Power Company’s subsidiary -- Tata Power Renewable Energy (TPREL) has entered into a Power Purchase Agreement (PPA) with Tata Power Mumbai Distribution for a contracted capacity of 80 MW Firm and Dispatchable Renewable Energy (FDRE) project. The project will integrate advanced solar, wind and battery storage systems to enable reliable energy dispatch during peak demand, thereby strengthening grid stability. 

RITES has received a work order from Damodar Valley Corporation (DVC) for ‘AMC of Railway Sidings tracks, O&M of S&T and operation of 25KV OHE isolators and associated Systems at DVC Mejia Thermal Power Station’. Broad consideration or size of the order(s)/contract(s) is Rs 36.23 crore (excluding GST). 

Manba Finance has raised Rs 95 crore through the allotment of 9500 Secured, Rated, Listed, Redeemable, Taxable, Non-Convertible Debentures (NCDs/ Debentures) of Rs 1,00,000 each on private placement basis. The meeting of the Finance Committee (Finance Committee) constituted by Board of Directors of the Company was held on September 24, 2025, has, inter-alia, allotted the same. 

PTC Industries’ wholly owned step-down subsidiary--Trac Precision Solutions (Trac) has entered into partnership with Coolbrook, a transformational technology and engineering company, to supply critical machined and cast components for its RotoDynamic Heater (RDH) - a breakthrough technology designed to electrify high-temperature industrial heating processes, significantly reducing global CO2 emissions. 

Lemon Tree Hotels has launched its latest property – Lemon Tree Premier, Tirupati. This managed hotel features 111 well-appointed rooms & suites, complemented by Citrus Café – a multi-cuisine restaurant, Slounge – the hip recreational bar, the Pool Bar & Grill, banquet spaces, a spa, a fitness center and the swimming pool. Of this, 54 rooms & suites along with Citrus Cafe opened today in the first phase. The remaining 57 rooms along with Slounge, the Pool Bar & Grill, banquet spaces, a spa, a fitness center and the swimming pool are set to open in the second phase.

Linc has commenced operations of its joint venture with Mitsubishi Pencil Co., (Head Office: Tokyo, Japan). The new entity, UNI LINC INDIA, marks the beginning of an exciting new chapter in the Indian writing instruments industry. This collaboration combines Linc’s deep-rooted expertise, nationwide distribution network, and strong brand equity in India with Mitsubishi Pencil’s globally renowned innovation, precision, and product excellence under the Uni brand. Together, the joint venture aims to bring to India a new standard of writing instruments--products that merge world-class Japanese technology with affordability and accessibility for Indian consumers.

TBO Tek‘s wholly owned step-down subsidiary--TBO LLC has successfully completed the acquisition of 100% ownership interest in Classic Vacations, LLC (Target) in accordance with the terms of the Securities Purchase Agreement. Pursuant to this closing, Classic Vacations, LLC has now become a wholly owned subsidiary of TBO LLC and a material step-down subsidiary of TBO Tek. The total consideration for the acquisition was $125 million (closing consideration amounting to $110.36 million and closing adjustments amounting to $14.64 million), funded through a mix of inter-corporate loan extended to Tek Travels DMCC, internal accruals, and credit facilities backed by corporate guarantees as already disclosed in our prior intimation.