Sattrix Secures Managed Security Contract With Public Sector Bank
The firm specified that the broad consideration for the contract is Rs 93 million (mn) and that the engagement does not involve any promoter or promoter group interest in the contracting entity. The company also indicated that the arrangement does not constitute a related party transaction and that it will be carried out on an arm's length basis. The contract scope was described as managed security services to support the banking institution's defence centre.
The disclosure was made under Regulation thirty of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015, and included the information required by the relevant circular for corporate announcements. The filing referenced the scrip code 544189 for the company on the exchange SME segment and included the annexure of contract particulars. The company requested that the exchange take the information on record.
The announcement emphasised that the order represents a significant service engagement for the firm and sets a three year service period for ongoing monitoring and support. The company will oversee delivery of managed security operations and related cybersecurity measures for the bank's centre. No further financial details were provided beyond the disclosed contract value.