NIS Management Limited has made a regulatory disclosure under Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015, regarding the renewal of work orders awarded to the company.
The company has received renewal of work orders from seven entities within the Reliance Group:
- Reliance Projects & Property Management Services Limited
- V-Retail Limited
- Reliance Brands Limited
- Reliance Luxe Beauty Limited
- Reliance Brands Eyewear Private Limited
- Reliance Ritu Kumar Private Limited
- Reliance Gas Lifestyle India Private Limited
The work orders pertain to the provision of House Keeping Services, MEPC Electrical Services, and other ancillary services at various locations/sites of the awarding entities.
The total revenue from these work orders is ₹14,94,48,448.6 (Rupees Fourteen Crore Ninety-Four Lakh Forty-Eight Thousand Four Hundred Forty-Eight and Sixty Paise Only), inclusive of all taxes.
The work orders are to be executed by March 31, 2027.
The company has confirmed that:
- The promoter/promoter group/group companies have no interest in the entities that awarded the orders
- The orders do not fall under the ambit of Related Party Transactions
- The orders were awarded by domestic entities
- The nature of the contracts is domestic
The disclosure was made in accordance with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015, with detailed requirements provided in Annexure-A to the letter.
The letter was signed by Debajit Choudhury, Managing Director (DIN: 00932489), from the company's registered office in Kolkata, West Bengal.