MIC Electronics Secures ₹1.49 Crore Contract from Vijayawada Railway
Filing Summary
MIC Electronics Ltd has received a Letter of Acceptance from the Vijayawada Railway Division for a contract valued at ₹1.49 Crore. The contract involves the provision of an IP-based Integrated Passenger Information System at ANV and YLM railway stations. The project is domestic and will be executed over 12 months. The order was obtained through a tender process and does not involve any related party transactions. The terms and conditions will be finalized upon the execution of the agreement.
MIC Electronics Ltd has announced the receipt of a Letter of Acceptance from the Vijayawada Railway Division for a contract valued at ₹1,49,88,885. The contract involves the provision of an IP-based Integrated Passenger Information System at ANV and YLM railway stations under the Vijayawada Division. This development was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The total contract value is ₹1,49,88,885. The project is domestic and will be executed over a period of 12 months from the date of the agreement’s execution. The order was obtained through a tender process, and it is not a nomination-based award. The terms and conditions of the contract will be finalized at the time of the agreement’s execution.
The order includes the design, supply, installation, testing, and commissioning of the IP-based integrated passenger information system. There is no involvement of related party transactions, and none of the promoter or promoter group companies have any interest in the entity that awarded the order.
The Vijayawada Railway Division is part of the Indian Railways, a government authority responsible for railway operations in the region. The division focuses on enhancing passenger services and infrastructure development.
MIC Electronics Ltd specializes in the design and manufacture of electronic products and solutions. The company focuses on providing innovative technology solutions across various sectors, including transportation and communication. MIC Electronics aims to expand its market presence by securing contracts with government and private entities.