Olectra Greentech Limited has announced that Evey Trans Private Limited has received Letters of Award from Telangana State Road Transport Corporation (TGSRTC) for the supply, operation and maintenance of 1,085 electric buses for intra-city operations.
On February 23, 2026, Olectra Greentech informed the stock exchanges that Evey Trans Private Limited (EVEY) has received two Letters of Award from Telangana State Road Transport Corporation (TGSRTC) for 1,085 electric buses.
The order comprises 1,025 buses of 12-Meter Non-AC category and 60 buses of 12-Meter AC category for intra-city operations.
These orders are on a Gross Cost Contract (GCC) or OPEX model basis for a contract period of 12 years. EVEY shall procure these buses from Olectra Greentech Limited, with delivery scheduled over a period of 20 months.
The value of the supply of these 1,085 buses would be approximately ₹1,800 crore for Olectra. Maintenance of these buses will also be undertaken by Olectra during the contract period.
The orders have been awarded by Telangana State Road Transport Corporation, a domestic entity, for domestic operations within the state.
The buses will be delivered over a period of 20 months under the terms of the Letters of Award.
The contract is structured on a Gross Cost Contract basis, which involves the supply, operation and maintenance of the electric bus fleet by the company.
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The company has disclosed that the proposed transactions between Olectra and EVEY will fall under the category of related party transactions. These transactions will be conducted on an arm's length basis.
The company confirmed that no promoter, promoter group, or group companies have any interest in the entity that awarded the contract, namely Telangana State Road Transport Corporation.
As of February 23, 2026, at 1:53 PM, Olectra Greentech share price on NSE was trading at ₹1,037.60 up by 2.28% from the previous closing price.
Olectra Greentech has secured an order for 1,085 electric buses from Telangana State Road Transport Corporation valued at approximately ₹1,800 crore. The buses will be supplied over 20 months under a 12-year Gross Cost Contract model, with maintenance to be undertaken by Olectra during the contract period.
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Published on: Feb 23, 2026, 2:27 PM IST
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