The parent company of Olectra Greentech Ltd. has emerged as among the top donors in the electoral bond list that was made public on Thursday.
Megha Engineering & Infrastructures Ltd. purchased 966 electoral bonds worth Rs 1 crore each between April 2019 and January 2024, according to the electoral bond list published by the State Bank of India on the Election Commission’s website.
That totals to Rs 966 crore—the second highest contribution after Future Gaming & Hotel Services Pvt. with Rs 1,368 crore.
Megha Engineering took a controlling 50.1% stake in Olectra in August 2018, according to Nov. 10, 2018, Nikkei report. Olectra had previously forged a deal with Chinese electric vehicle maker Byd Co. to build electric buses in India.
Since then, Olectra has become a Rs 1,000 crore enterprise, almost doubling its revenue between the financial years ending March 2022 and March 2023. Over the last year, the stock has surged more than…
