Avantel Limited has secured a major rate contract worth Rs.459.90 crores from Zetwerk Manufacturing Businesses Limited for the supply and annual maintenance contract of satellite communication equipment. The company announced this significant business development through a regulatory filing.

Contract Details and Scope

The comprehensive agreement covers multiple aspects of satellite communication equipment services:

Service Components and Timeline

The contract encompasses a comprehensive service package designed to ensure complete satellite communication solutions. The agreement includes supply of satellite communication equipment along with extensive support services.

Contract Classification and Compliance

The domestic contract falls under the manufacturing and annual maintenance category, with Zetwerk Manufacturing Businesses Limited being the awarding entity. The agreement does not involve any related party transactions or promoter group interests.

Key Contract Attributes:

• Domestic entity contract
• Manufacturing and AMC nature
• No related party involvement
• Arms-length transaction compliance

Regulatory Disclosure

Avantel Limited made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement follows SEBI circulars ensuring complete transparency regarding material contracts.

The contract represents a significant business opportunity for Avantel Limited in the satellite communication equipment sector, demonstrating the company's capabilities in both manufacturing and long-term maintenance services.

Avantel Limited has completed the allotment of 52,780 equity shares to its eligible employees under the Avantel Employees Stock Option Plan 2023 (ESOP 2023). The ESOP Allotment Committee approved this allotment on February 27, 2026, pursuant to the exercise of stock options by employees.

Share Allotment Details

The allotted shares carry a face value of Rs.2 each and were issued at an exercise price of Rs.50 per share, with a premium of Rs.48 per share. The shares were allotted under the company's employee stock option scheme to reward and retain talent within the organization.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up equity share capital. The total number of equity shares outstanding has risen from 26,56,58,070 shares to 26,57,10,850 shares.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was filed with both BSE Limited and National Stock Exchange of India Limited, where Avantel's shares are listed under scrip code 532406 and symbol AVANTEL respectively.

The newly issued shares are identical in all respects to the existing equity shares and rank pari passu with them. The distinctive numbers for the newly allotted shares range from 26,56,58,071 to 26,57,10,850, and they carry the same ISIN number INE005B01027 as the existing shares.

ESOP Scheme Background

The Avantel Employees Stock Option Plan 2023 was established to provide employees with an opportunity to participate in the company's growth and success. The scheme allows eligible employees to exercise their vested options and acquire equity shares in the company at predetermined prices, fostering employee ownership and alignment with shareholder interests.