Pace Digitek Secures Rs. 891 Million Order from RailTel Corporation
Filing Summary
Pace Digitek Limited has received an Advance Letter of Award valued at Rs. 891 million, inclusive of GST, from RailTel Corporation of India Limited. The order involves the supply, installation, and commissioning of an IP-based video surveillance system in LHB coaches, with a three-year warranty and a subsequent five-year Comprehensive Annual Maintenance Contract (CAMC). The project is scheduled for completion within eight months from the award date. This order does not involve any related party transactions, and there is no interest from the promoter group in RailTel.
Pace Digitek Limited has announced the receipt of an Advance Letter of Award from RailTel Corporation of India Limited for a contract valued at Rs. 891 million, including GST. The contract entails the supply, installation, and commissioning of an IP-based video surveillance system in LHB coaches. This project includes a warranty period of three years, followed by a five-year Comprehensive Annual Maintenance Contract (CAMC).
The order is to be executed within eight months from the date of the award. The contract has been awarded by a domestic entity, RailTel, and does not involve any related party transactions. There is no interest from the promoter or promoter group of Pace Digitek in RailTel Corporation.
The details of the order were disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all necessary information as required under the regulation, ensuring transparency in its dealings.
RailTel Corporation of India Limited is a government-owned enterprise focusing on providing broadband and VPN services. It is known for its extensive network infrastructure and plays a significant role in the modernization of telecom services in India.
Pace Digitek Limited specializes in providing technology solutions, including surveillance systems and infrastructure services. The company focuses on expanding its footprint in the technology sector by securing significant contracts and enhancing its service offerings.