New Delhi: The Maharashtra State Road Transport Corporation has issued a Letter of Intent to the consortium of Olectra Greentech Limited and Evey Trans Private Limited for the supply, operation, and maintenance of 5,150 electric buses and allied electrical and civil infrastructure.
Olectra Greentech stated that EVEY will purchase these buses from Olectra Greentech Limited in a stock filing on Friday.
Delivery of the order will take place over a period of 24 months.
It added that the worth of these Electric Buses will be around Rs 10,000 crore. “During the Contract Period, maintenance of these buses shall also be undertaken by Olectra.”
Ahead of today’s announcement, Olectra Greentech’s market size was below before today’s enormous order size. Following the announcement of such a sizable order, its shares rose as high as Rs 1,229, up 17.7 per cent intraday from the previous close.
In the process, its market cap breached Rs 10,000 crore mark.
