Olectra secures order worth Rs 1,800 cr

Evey Trans (EVEY) has received two Letters of Award (LOAs) from Telangana State Road Transport Corporation (TGSRTC) for supply, operation and maintenance of 1,085 Electric Buses, comprising 1,025 (12-Meter Non-AC) Buses and 60 (12-Meter AC) Buses respectively for intra-city operations.

EVEY shall procure these buses from Olectra Greentech (Olectra), which shall be delivered over a period of 20 months.

The value of the two orders is approximately Rs 1,800 crore for Olectra.

The proposed transactions between Olectra and EVEY will fall under the category of related party transactions and will be conducted on an arm's length basis.

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