Raminfo share price surged 5% in intraday trade on Wednesday, July 16, touching the day’s high of ₹105.45, even as the Indian stock market continued to trade in a range-bound manner. The rally followed the company’s announcement that it had received a Letter of Intent (LoI) worth ₹14.14 crore from the Directorate of Information Technology, Government of Tripura.
The order pertains to the development, deployment, implementation, and maintenance of the Services & Benefits Delivery Platform, ‘UNNOTI,’ under the Tripura Rural Economic Growth & Service Delivery Project (TRESP). According to the company’s filing today, the project is to be completed within 16 months, followed by 26 months of maintenance support.
The scope of work includes end-to-end development of a citizen-centric digital platform aimed at streamlining service delivery and improving benefit administration for the citizens of Tripura. The engagement also includes ongoing platform support and maintenance services post-deployment.
“This project reinforces Raminfo’s leadership in the e-governance and citizen services space and strengthens our commitment to leveraging technology for inclusive growth and public service delivery,” the company said in Wednesday’s regulatory filing.
This marks the second major order for the company in less than a month. In mid-June, Raminfo secured a significant ₹474 crore order from Rajasthan Renewable Energy Corporation Limited (RRECL) through a consortium led by the company.
That contract involves the design, supply, construction, testing, and commissioning of rooftop solar photovoltaic power projects with a total capacity of 73 MW across buildings owned by the Rajasthan state government. The order also includes comprehensive operations and maintenance for 25 years.
To execute this project, the company has established a special purpose vehicle, Raminfo Green Energy, in which it holds a 51% stake.
The rooftop solar industry in India is witnessing rapid growth, with total installed capacity reaching 13.7 GW by December 2024. Market estimates suggest the sector could reach a market value of USD 4.46 billion by 2033.
About Raminfo
Raminfo is a leading tech solutions company with over 30 years of experience in e-governance and a broad suite of services across fintech, healthcare, smart energy, IoT, analytics, and engineering.
In the government space, Raminfo is known for its work in e-governance, smart lighting, telemedicine, agro-logistics, skill development, and education initiatives.
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