Bondada Engg gains on bagging work order worth Rs 109 cr

Bondada Engineering advanced 1.62% to Rs 598.50 after the company said that it has received a work order worth Rs 108.90 crore from the Bihar Renewable Energy Development Agency under the Mukhyamantri Gramin Solar Street Light Yojana.

The contract involves the design, supply, installation, testing, and commissioning of smart solar street light systems with a comprehensive maintenance contract for five years, including remote monitoring capabilities.

The project, to be executed on an EPC basis using existing electric poles across Bihar, is expected to be completed within 18 months from the execution of the agreement.

Meanwhile, the company's board will meet on Saturday, 7 December 2024, to consider and approve the proposal to raise funds through the issuance of equity shares or other eligible securities, including debentures, non-convertible debt instruments, warrants, convertible debentures, or other equity-based instruments, in one or more tranches, via public and/or private offerings, including preferential issue, qualified institutional placement, or any other method as decided by the board.

Bondada Engineering is an infrastructure company that provides engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services, to customers in the telecom and solar energy industries throughout India.

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