HFCL reschedules Nivetti stake sale completion to Sep 30, 2026

HFCL Limited has extended the timeline for the sale of its entire shareholding in Nivetti Systems Private Limited, with the transaction now scheduled for completion on or before September 30, 2026. The company had previously targeted June 30, 2026, as the closing date for this divestment. The decision to reschedule follows the execution of an addendum to the Share Purchase Agreement (SPA) among HFCL Limited , Trinity Tech Solutions, and Nivetti Systems Private Limited.

The transaction involves the sale of 2,17,594 equity shares, representing the company's complete stake in Nivetti. HFCL had previously informed the exchanges regarding the execution of the SPA on September 01, 2025, and provided subsequent updates on October 15, 2025, December 15, 2025, and March 16, 2026.

Transaction Details

The key details of the stake sale are outlined below:

Parameter	Details
Target Company	Nivetti Systems Private Limited
Buyer	Trinity Tech Solutions
Shares Sold	2,17,594 equity shares
Stake Sold	Entire stake
Revised Completion Date	September 30, 2026
Original Completion Date	June 30, 2026

HFCL confirmed that all other disclosures made in accordance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, remain unchanged. These details were initially communicated to the stock exchanges on September 01, 2025.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-5.00%	-7.20%	-1.17%	+231.91%	+157.73%	+169.54%

HFCL has secured a contract worth approximately ₹2,666.09 crore from Rail Vikas Nigam Limited (RVNL) for the BharatNet Phase-III project in the Uttar Pradesh (West) Telecom Circle. The agreement strengthens the company's position in the telecom network domain by adding a large-scale digital connectivity project to its order book. The contract involves a capital expenditure component of ₹1,192.82 crore and an operational expenditure component of ₹1,473.27 crore.

Scope of Work

The scope of the contract encompasses the supply of telecom equipment and related accessories, along with their installation and commissioning. Additionally, HFCL is responsible for the creation of an Optical Fiber Cable (OFC) Telecom Network. The company will also provide maintenance services for the project for a period of 10 years, which includes a 1-year warranty period. The project is to be executed over a period of two years for implementation, followed by 10 years of operations and maintenance.

Contract Details

The following table outlines the key parameters of the awarded contract:

Particulars:	Details
Name of Client	Rail Vikas Nigam Limited
Nature of Order	Supply, installation, commissioning, creation of OFC network, and maintenance
Total Value	~₹2,666.09 crore
Capex Component	~₹1,192.82 crore
Opex Component	~₹1,473.27 crore
Execution Period	2 years implementation, 10 years O&M including 1-year warranty
Geography	Domestic (Uttar Pradesh West Telecom Circle)

Prior Order from RVNL

This new award is in addition to a previous contract valued at ₹2,167.65 crore, which RVNL awarded to HFCL for BharatNet Phase-III projects in the Uttar Pradesh (East) and Uttar Pradesh (West) Telecom Circles. The earlier contract was intimated to the stock exchanges on January 23, 2025.

Compliance and Disclosures

The contract was awarded by a domestic entity and falls within the normal course of business for HFCL. There are no interests held by the promoter, promoter group, or group companies in RVNL, and the transaction does not qualify as a related party transaction. The disclosure was made in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.