Shares of Pace Digitek Ltd surged 2% to hit a day’s high of Rs 189.79 on 24th February after the company announced that its material subsidiary, Lineage Power Private Ltd, secured a purchase order worth Rs 1,587.10 million (including GST) from Reliance Industries Ltd. This order is for the supply of lithium-ion battery packs.
The company said in its exchange filing that the order involves supplying Li-ion 48V 15S1P 314 AH battery packs. Furthermore, the contract was awarded by a domestic entity. It will be executed within India and is scheduled to be completed by 31st August, 2026.
Pace Digitek also clarified that neither its promoter nor any of its promoter group companies has any interest in the awarding entity. It added that the deal does not qualify as a related party transaction.
Last week, the company announced another order win through its material subsidiary, Lineage Power Private Ltd. The subsidiary secured a $1.35 million order from Yaqin Chem, a Saudi Arabia-based company. The order is to supply four mobile Battery Energy Storage Systems (BESS) mounted on gooseneck trailers.
These BESS units include 200 KW–1200 KWH and 200 KW–2500 KWH battery configurations. As a result, this strengthens the subsidiary’s position in the energy storage solutions segment.
At 11:26 AM, shares of Pace Digitek were trading 1.68% higher at Rs 184.92 on the NSE.
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