Diamond Power Infrastructure Limited Receives Letter of Intent for Cable Supply Order
Diamond Power Infrastructure Limited announced it has received a letter of intent from Uttar Gujarat Vij Company Limited for the supply of cables. The order is valued at Rs. 43,93,97,438 (Rupees Forty Three Cores Ninety Three Lakhs Ninety Seven Thousand Four Hundred Thirty-Eight only), inclusive of GST.The order involves the supply of 453 km of cables. The execution period is within 7 months, following a 45-day commencement period, with deliveries to be made in equal monthly lots as determined by DISCOMS.
According to company disclosures, neither the promoter group nor group companies have any interest in Uttar Gujarat Vij Company Limited. The order does not constitute a related party transaction.
| SI. No. | Particulars in respect of the event | Details/Information of the event |
|---|---|---|
| 1 | Nameof the entity awarding the order(s)/contract(s) | Uttar Gujarat Vij Company Limited |
| 2 | Significant terms and conditions of order(s)/contract(s) awarded in brief | Supply of Cables |
| 3 | Whether order(s) / contract(s) have been awarded by domestic/ international entity | Domestic Entity |
| 4 | Nature of order(s) / contract(s) | Supply of 453 km cables |
| 5 | Whether domestic or international | Domestic |
| 6 | Time period by which the order(s)/contract(s) is to be executed | Within 7 months in equal monthly lots as decided by DISCOMS after a commencement period of 45 days from the date of receipt of letter of acceptance of respective DISCOMS. |
| 7 | Broad consideration or size of the order(s)/contract(s) | Rs. 43,93,97,438/- inclusive tax |
| 8 | Whether the promoter/ promoter group / group companies have any interest in the entity that awarded the order(s)/contract(s)? If yes, nature of interest and details thereof | None of the Promoter/Promoter Group/Group Companies have any interest in the entity. |
| 9 | Whether the order(s)/contract(s) would fall within related party transactions? If yes, whether the same is done at 'arm's length' | The aforesaid work doesn't fall under the ambit of Related Party Transactions |
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