Said tender for 350 buses is for supply of the Electric Buses on Gross Cost Contract (GCC) / OPEX model basis for a period in the range of 10-12 years (Contract Period).

Once Letter of Award is received by EVEY for 350 buses, it shall procure these Electric Buses from the Olectra Greentech (Company). Value of this tender is approximately Rs. 700 crore to the Company. The transactions between the Company and EVEY are to be considered as related party transactions and shall be at arm's length basis.