Varroc Engineering has secured a major contract with a top global electric vehicle original equipment manufacturer (OEM) for the production of AC-Bi Directional Wall Chargers. The strategic partnership represents a significant expansion of the company's electric vehicle component manufacturing capabilities with production facilities located in Romania.

Contract Specifications

The contract award demonstrates Varroc Engineering's technological capabilities in advanced electric vehicle charging solutions. The AC-Bi Directional Wall Charger represents cutting-edge technology that enables both charging and discharging capabilities, positioning the company at the forefront of EV infrastructure development.

Strategic Manufacturing Expansion

The decision to establish production in Romania reflects Varroc Engineering's strategic approach to serving global markets efficiently. The Romanian facility will serve as a key manufacturing hub for the company's electric vehicle charging solutions, enabling proximity to major European automotive markets.

The six-year contract duration provides substantial revenue visibility and supports long-term business planning. With an annual contract value of ₹4,391 million, this partnership represents one of the company's most significant contracts in the electric vehicle segment, reinforcing its position as a trusted supplier to leading global EV manufacturers.

Varroc engineering Limited has announced the successful issuance and allotment of commercial paper worth Rs 50 crores to Kotak Mahindra Bank Limited. The automotive components manufacturer informed the stock exchanges about this debt instrument issuance on January 28, 2026, in compliance with Regulation 30 of SEBI Listing Regulations.

Commercial Paper Details

The commercial paper issuance carries specific terms and conditions structured for short-term financing requirements. The instrument features a discount rate of 7.20% with a tenure of 30 days, making it a short-term debt security for the company's working capital needs.

Instrument Structure

The commercial paper has been structured with 1000 units, each carrying a face value of Rs 5,00,000. The issue price has been set at Rs 4,97,058.5 per security, reflecting the discount rate applied to the face value. ICICI Bank Limited has been appointed as the Issuing and Paying Agent (IPA) for this commercial paper issuance.

Listing Process

Varroc Engineering Limited has indicated its intention to list the commercial paper on the National Stock Exchange of India Limited. The company is currently awaiting listing approval from the exchange. The commercial paper is proposed to be listed, which would provide additional liquidity options for the instrument.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 and other applicable regulations of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The intimation was signed by Anil Ghatiya, Company Secretary and Compliance Officer, ensuring proper corporate governance protocols were followed for this debt issuance.