Keto Motors Limited has entered into separate Memoranda of Understanding (MoUs) with three employee transportation and mobility service providers on August 02, 2026. The disclosure is made pursuant to Regulation 30 of SEBI LODR Regulations.
Counterparties Involved
- STS Wheels Private Limited (Sony Transport)
- Svida Mobility Private Limited
- Hybrid Fleet Management Pvt Ltd
Purpose and Nature of Agreements
The MoUs serve to record collaboration between Keto Motors and each counterparty for the deployment of Keto Motors' 9-meter electric buses:
- STS Wheels Private Limited: Deployment of fifty (50) electric buses under a firm order to be placed by STS Wheels. Keto Motors shall deliver one homologated electric bus on an expedited basis upon signing to enable early deployment.
- Svida Mobility Private Limited: Deployment of one hundred (100) electric buses under a firm order to be placed by Svida.
- Hybrid Fleet Management Pvt Ltd: Deployment of one hundred (100) electric buses under a firm order to be placed by Hybrid.
Key Terms and Conditions
- The MoUs are expressions of interest and are not commercially binding agreements.
- Parties will enter into definitive Vehicle Supply Agreements in due course as per the terms of the MoUs.
- No special rights are agreed between the parties, including right to appoint directors, first right to share subscription, or rights to restrict changes in capital structure.
Related Party Status
- None of the counterparties are related to promoter/promoter group companies of Keto Motors.
- The transactions do not qualify as related party transactions.
- All transactions are intended to be conducted at arm's length basis.
Share Issuance
- No issuance of shares to any counterparty is contemplated under these MoUs.