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Airfloa Rail Technology gains after ₹34.85 crore order for Vande Bharat Sleeper interiors
The contract covers interior design for one Vande Bharat Sleeper trainset and creation of one mock-up, with work to be completed within 12 months of the letter of acceptance.
Airfloa Rail Technology said it received a new order worth ₹34.85 crore, a development likely to draw investor attention on Tuesday, October 13, according to LiveMint Markets.
The company disclosed in a post-market regulatory filing that Integral Coach Factory placed the order through ICF-HQ-Mechanical office of the Chief Depot Engineer (Mechanical), Chennai, for interior design of one Vande Bharat Sleeper trainset and development of one mock-up.
Airfloa said the work is to be completed within 12 months from the date of the letter of acceptance, and it did not name the contract-awarding entity beyond stating the order is classified as domestic.
The company also said the promoter, promoter group, and group companies have no interest in the awarding entity, and it added that the order does not fall under related-party transactions and there was no delay in reporting the disclosure.