This order for supply of 123 Electric Buses is on Gross Cost Contract (GCC) / OPEX model basis for a period of 15 years (Contract Period). Value of this Contract is approximately Rs. 185 crore to the Company.

EVEY shall procure these buses from Olectra and which shall be delivered over a period of 9 months. Maintenance of these buses shall also be undertaken by the Olectra during the Contract Period. These transactions between the Company and EVEY are to be considered as related party transactions and shall be at arm's length basis.