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Sattrix Information Security Ltd has received a Letter of Intent from State Bank of India (SBI) for providing Managed Security Service Provider (MSSP) services for SBI's Cyber Security Defense Center (CSDC). The contract is valued at Rs. 9.3 crore (excluding taxes) and will run for a period of 3 years. This is a domestic contract awarded by SBI, one of India's largest public sector banks. The company disclosed this under SEBI Regulation 30 of the LODR Regulations, 2015. No related party transaction or promoter interest was identified in this deal.
A positive development for the company as securing a multi-year contract with India's largest bank validates Sattrix's cybersecurity capabilities. The Rs. 9.3 crore deal provides revenue visibility for 3 years and could support future growth prospects.