Avantel Ltd has received a rate contract worth Rs 459.9 crore (excluding taxes) from Zetwerk Manufacturing Businesses Limited for the supply of satellite communication equipment.

The contract also includes a one-year comprehensive onsite warranty along with a five-year annual maintenance contract (AMC) support. The order is domestic in nature and will be executed over a period of three years.

The company clarified that the transaction does not fall under related party dealings and there is no promoter or group company interest in the awarding entity.