Avantel Secures a 3.45 Cr. Order from Bharat Electronics

Key takeaways from the Order Win

• Avantel received a purchase order worth Rs. 3.45 crore from Bharat Electronics Limited.
• The order is for the supply of Satcom equipment and is to be manufactured domestically.
• The contract is expected to be executed by July 2025.

As per a stock exchange filing, the order involves the supply of Satcom equipment, which will be manufactured domestically. The contract has been awarded by a domestic entity, Bharat Electronics Limited, and the order is expected to be completed by July 2025. The total size of the order stands at Rs. 3.45 crore.

About Avantel Limited

Avantel Limited specialises in designing, developing, and maintaining wireless and satellite communication products, defence electronics, radar systems, and network management software applications, primarily serving clients in the aerospace and defence sectors.

About Bharat Electronics Limited

Founded in 1954, Bharat Electronics Ltd. specialises in manufacturing and supplying electronic equipment and systems for the defence sector, with a smaller presence in the civilian market.

Key Takeaways from the Joint Venture of NGEL and Mahapreit

• NTPC Green Energy Ltd. and MAHAPREIT have partnered to develop 10 GW of renewable energy projects.
• The Joint Venture Agreement was signed in Mumbai on September 25, 2024.
• The project will focus on developing renewable energy parks in Maharashtra and other states in India.

As per a stock exchange filing, the agreement was signed on September 25, 2024, by Shri Rajiv Gupta, CEO of NGEL, and Shri Bipin Shrimali, MD of MAHAPREIT, in Mumbai to develop 10 GW of renewable energy projects.

The JV will focus on the development of Renewable Energy Parks and Projects across Maharashtra and potentially other states in India. This partnership is a significant step toward expanding India's renewable energy capacity.

About NTPC Limited 

NTPC Ltd., along with its subsidiaries, associates, and joint ventures, primarily focuses on generating and selling bulk power to state utilities. The group is also engaged in various other sectors, including consultancy, project management and supervision, energy trading, oil and gas exploration, and coal mining.

About NTPC Green Energy Limited

NTPC Green Energy Limited (NGEL), a subsidiary of the Indian state-owned power generation company NTPC Limited, was established in 2022. Its primary focus is on developing and operating renewable energy projects, primarily in the solar and wind power sectors.

NGEL's mission is to contribute to India's clean energy transition by generating renewable electricity and reducing carbon emissions. The company aims to expand its renewable energy portfolio through a combination of new project developments and strategic acquisitions.

Currently, NGEL has several renewable energy projects under development and operation across India. These projects involve the construction and management of solar and wind power plants, which generate electricity and contribute to the country's renewable energy capacity.

Key Takeaways from the Award Win

• Powermech has been awarded a ₹865 crore contract for the operation and maintenance (O&M) of a 3X660 MW supercritical thermal power plant.
• The project was awarded by Talwandi Sabo Power Limited, a subsidiary of Vedanta Limited.
• The contract, valued at ₹865 crore, will span over five years, starting from November 1, 2024.

Power Mech, a prominent player in the power sector, has secured a substantial order worth ₹865 crores. The contract involves the Operation and Maintenance (O&M) of a 3X660 MW supercritical thermal power plant located at Banawala village, Mansa District, Punjab. The project was awarded by Talwandi Sabo Power Limited, a subsidiary of Vedanta Limited.

The agreement is to be executed over the next five years starting from November 1, 2024, as per a stock exchange filing. As a domestic entity, Talwandi Sabo Power Limited has entrusted Power Mech with this critical role, reflecting the company’s reputation for excellence in the Indian power industry.

About Power Mech Projects Limited

Founded in 1999, Power Mech Projects Limited is an engineering and construction firm offering comprehensive services in the erection, testing, and commissioning (ETC) of boilers, turbines, generators, and balance of plant (BOP). The company also handles civil works and operations and maintenance (O&M). Power Mech is involved in executing ultra-mega power projects as well as supercritical and subcritical thermal power projects.

About Vedanta Limited

Vedanta Ltd. is a diversified natural resources conglomerate involved in the exploration, extraction, and processing of minerals and oil & gas. The company is engaged in the production and sale of zinc, lead, silver, copper, aluminium, iron ore, and oil & gas, with operations spanning across India, South Africa, Namibia, Ireland, Liberia, and the UAE. Additionally, Vedanta operates in commercial power generation, steel manufacturing, and port operations in India, while also manufacturing glass substrates in South Korea and Taiwan.

Key takeaways from the Join Venture Agreement of Linc and SILKA

• Linc Limited and Silka Kirtasiye have established a joint venture to manufacture and market writing instruments in Turkiye and nearby countries.
• Both Linc and Silka will hold equal or 50% shareholdings in the joint venture, and the parties will provide a signed initial capital of USD 1 million.
• Linc will have the authority to designate the Chairman of the Board, and SILKA will have the authority to appoint the Managing Director. Any major business decisions will require consent and approval from both parties.

As per a stock exchange filing, the initial capital for the joint venture is set at USD 1 million, with both Linc Limited and SILKA holding equal shares, each with a 50% stake. Both companies will also have the right to appoint two directors each to the joint venture company. The Chairman of the Board will be chosen by Linc, and the Managing Director will be appointed by SILKA, with mutual consent required for other major business decisions pertaining to the joint venture. Lastly, Linc Limited will be permitted to appoint financial auditors to the joint venture company. 

The agreement clarifies that neither Linc Limited nor SILKA are related to the promoters or promoter groups of each other, and the transaction does not fall under related party transactions. The equity shares of the joint venture will be issued at par value to both companies. Moreover, there are no potential conflicts of interest arising from this partnership. 

This joint venture is expected to strengthen the market presence of both Linc and SILKA by leveraging local manufacturing capabilities and expanding distribution networks in the region.

About Linc Limited:

Incorporated in 1976, LINC Ltd is the largest and oldest manufacturer of writing instruments in India. The company produces a diverse range of writing products, including ball pens, gel pens, roller pens, retractable ball pens, dark pencils, and various stationery items. With decades of experience in the industry, LINC Ltd. is committed to delivering high-quality writing solutions to meet the needs of consumers.