Disclosure of Information pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015- Receipt of Letter of Acceptance.
TICL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Twamev Construction and Infrastructure Limited (formerly Tantia Constructions Limited) has received a Letter of Acceptance from Steel Authority of India Limited (SAIL) for a construction project. The contract involves rebuilding of Employees Quarter at ISP Township in Phase-1 at SAIL-ISP Burnpur, IISCO Steel Plant. The total contract value is Rs. 19,04,65,887.63 (approximately Rs. 19.05 crore, inclusive of GST). The project must be completed within 12 months from the effective contract date. The company is required to submit a Security Deposit of Rs. 95,23,295 (5% of contract value) as Performance Bank Guarantee within 20 days. SAIL is a Central Public Sector Enterprise, making this a government contract.
This is a positive development for the company as it secures a government contract worth ~Rs. 19 crore from SAIL. However, the actual significance depends on Twamev's annual revenue, as the filing does not provide financial context to assess the materiality of this order.