Olectra Greentech Limited announced that the tenders where the company and Evey Trans Private Limited (EVEY) were declared as least quotcd (L-1) bidders for 353 Buses, for 50 Electric Buses Evey has received letter of award from one of the state transport authorities (i.e for Inter-City Operations) under FAME-I1 scheme of Government of India. This order for supply of 50 Electric Buses is on Gross Cost Contract (GCC) /OPEX model basis (i.e for Inter-City Operations) is for a period of 12 years. These Buses shall be delivered over a period of 12 months.

The maintenance of these buses shall also be undertaken by the company during the Contract Period. Value of this Contract is approximately INR 1250 million to the Company. These transactions between the Company and EVEY are to be considered as related party transactions and shall be at arm's length basis.

With these, total order book of the company for electric buses against above and early orders are around 1,523 electric buses after considering the deliveries already made.