Sugs Lloyd secures Rs 3 billion in Bihar contracts; Plans IPO

13 Nov 2024 CW Team

Delhi-based electrical engineering firm Sugs Lloyd Limited has been awarded two government contracts in Bihar, valued at over Rs 3 billion, after emerging as the lowest bidder. The projects include the supply, installation, testing, and commissioning of a power substation, along with high-tension (HT) and low-tension (LT) lines, to boost Bihar's power infrastructure and improve distribution efficiency.

To support its growth and fund working capital needs, Sugs Lloyd has announced plans for an IPO. "We are delighted to be the L1 bidder for these vital power infrastructure projects," stated Satyakam Basu, CEO of Sugs Lloyd Limited. "With a solid track record in electrical and renewable energy projects, we are committed to completing these on schedule." (ET)

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