Polycab Contract with BSNL: Inder Jaisinghani is one of the well-known personalities of the Business World. In terms of making cable and wires, a liding company in India is the chairman and director of Policab India. The company said in an exchange filing on Thursday, March 13 that the company has received an order of about Rs 3,003 crore for India Net in Bihar Telecom Circle.
The company started in this way
Polycab India’s market cap currently closed the company’s stock at Rs 5,000 on Thursday. Let us know that Jaisinghani started the company in 1986 as a trading firm. In 2014, Polycab also started making products like electric fans, LED lighting, switch and switchgear.
This is so Jayasinghani’s net worth
According to Forbes, Jaisinghani currently has assets worth Rs 13918 crore. 71 -year -old Jaisinghani is currently ranked 2059 in the list of billionaires in the world. He was appointed as the chairman and director of Polycab on 20 December 1997. After this, on August 28, 2019, he was again appointed to this post. His company became public in 2019. The company’s shares rose from 2022 due to increasing electrification and increasing spending in electricity sector. In 2008, the International Finance Corporation (IFC), the unit of the World Bank Group, bought its stake in the company.
BSNL’s contract with polycab
There is a three -year construction period in this project. After this, there will be a 10 -year maintenance contract. For the first five years, the maintenance cost will be 5.5 percent of capital expenditure per year, while this amount has been fixed at 6.5 percent per year for five years after that. This contract includes capital expenditure of Rs 1,549.66 crore, operational expenditure of Rs 929.79 crore and operating expenditure of Rs 523.53 crore for the current network, thus it will cost a total of Rs 3002.99 crore.
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