The order, valued at Rs 563.35 crore inclusive of taxes and duties, is to be executed in tranches within 12 months from the release of advance payment following the signing of the contract. The company will furnish a performance-cum-warranty bank guarantee equivalent to 10% of the total contract value within 45 days of signing the agreement, along with the stipulated bank guarantee for the annual maintenance contract.
Shares of NIBE fell 3.29% to Rs 1,439.75 on the BSE.
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