Ever Trans Pvt Ltd gets LOA for 2100 electric buses

Against the tender where Evey Trans Private Limited (EVEY) has been declared as L-1 (Least Quoted) bidder, now it is awarded with Letter of Award for 2,100 Electric Buses from one of the State Transport Undertakings.

This order for supply of the 2,100 Electric Buses is on Gross Cost Contract (GCC) / OPEX model for a period of 12 years (Contract Period).

EVEY shall procure (either directly by itself or through its Special Purpose Vehicle) these 2,100 Electric Buses from Olectra Greentech Limited (Olectra) and which shall be delivered over a period of 12 months. Maintenance of these buses shall also be undertaken by Olectra during the Contract Period.

The value of these 2,100 Buses supply would be approximately Rs. 3,675 Crores for Olectra.

This transaction betyveen Olectra and EVEY is to be considered as related party transactions and shall be on arm's length basis.

Shares of Olectra Greentech Limited was last trading in BSE at Rs. 564.55 as compared to the previous close of Rs. 543.50. The total number of shares traded during the day was 62446 in over 3368 trades.

The stock hit an intraday high of Rs. 570.65 and intraday low of 542.90. The net turnover during the day was Rs. 35290217.00.

Source : Equity Bulls

Keywords

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