Olectra Greentech informs about disclosure

24 May 2021 Evaluate
Olectra Greentech has informed that as on date Consortium of Evey Trans (EVEY) and Olectra Greentech (Company) has been declared as Least Quoted (L-1) bidder for another 100 Electric Buses (for Inter-City Operations) by one of the State Transport Corporation under FAME-I1 scheme of Government of India. Said tender for 100 electric buses is for supply of the Electric Buses on Gross Cost Contract (GCC)/ OPEX model basis (for Inter-City Operations) for a period of 12 (Twelve) years (Contract Period). Once Letter of Award is received for 100 electric buses, EVEY shall procure these Electric Buses from Olectra Greentech and which shall be delivered over a period of 10 months. Value of this tender is approximately Rs 250 Crores to the Company. The transactions between the Company and EVEY are to be considered as related party transactions and shall be on arm's length basis.

The above information is a part of company’s filings submitted to BSE.

Olectra Greentech Share Price

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