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As part of the agreement, Dixon will acquire ₹427.99 crore worth of shares from Q Technology (Singapore) Pvt Ltd and Kunshan Q Technology International Ltd.

The order received is about 20% of the company’s overall market value of ₹2,500 Crore. The project will be spread across four districts.

The company added that between April and August this year it secured contracts worth ₹434.30 crore, covering roads, building construction, wastewater treatment and toll collection.

Funds raised will be deployed towards scaling solar, wind, and hybrid projects across the country, widening KPI Green’s renewable energy footprint.

The company also informed that the new plant will be situated in the Manufacturing Zone for Power and Renewable in Narmadapuram district.

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The contract, placed by a domestic entity, falls under the manufacturing category and requires Avantel to furnish a performance bank guarantee of 3%.

The company’s board has granted approval to issue 3.31 Crore shares to the promoter, Rising Sun Holdings Pvt. Ltd. The per share value for this fund infusion was ₹452.51.

The promoters have clarified that proceeds from any deal would go into a family trust rather than the company’s operations.

The contracts cover Distribution SCADA systems and Dynamic Reactive Power Compensation devices.