Neueon Corporation Enters Procurement Partnership with Elcom Innovations; Agreement Valued at ₹35 Crores
Neueon Corporation Limited has signed a Procurement Partnership/MOU agreement with Elcom Innovations Private Limited. The partnership, formalized on July 24, 2025, pertains to the supply of tactical communication equipment and solutions and the procurement of raw materials.The agreement outlines terms for Neueon's procurement operations, covering both domestic entities. This strategic move involves a significant commitment of approximately ₹ 35,00,00,000/- (Rupees Thirty-five crores Only) across various tranches, exclusive of tax.
In the partnership structure, Elcom Innovations Private Limited is the entity awarding the orders to Neueon Corporation. The nature of these orders involves securing raw materials necessary for production.
Key details regarding the procurement agreement are as follows:
| Detail | Description |
|---|---|
| Partnering Entity | Elcom Innovations Private Limited |
| Agreement Date | July 24, 2025 |
| Order Nature | Procurement of raw materials |
| Transaction Type | Domestic entity order |
| Estimated Value | Approximately ₹ 35,00,00,000/- (exclusive of tax) |
| Execution Timeline | Deliverables are scheduled to be completed by July 23, 2027 |
The partnership is structured such that there is no interest held by the promoter or promoter group companies in Elcom Innovations Private Limited. Furthermore, the transaction has been confirmed as not falling within related party transactions.
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