CyanConnode Holdings PLC (LON:CYAN) announced a new order for Indian state-owned utility MPWZ for 350,000 Omnimesh Modules for an undisclosed sum.
The order is for smart-metering communications in the towns of Ujjain, Dewas, Ratlam, Mhow and Khargone to be deployed over 30 months with initial deliveries starting in the third quarter.
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The networks provider previously deployed two orders for MPWZ for a total of 120,000 pieces of equipment.
The AIM-listed firm said the value of orders currently in India stands at INR 1.8bn (£18.5mln) and the majority of the revenue is expected to be recognised over the next two years.
“After seeing the benefits of Omnimesh enabled smart-meters at Indore city, MPWZ is now expanding the deployment to five other cities of the state,” said Anil Daulani, CyanConnode India chief executive and managing director.
Shares shot up 13% to 4.9p on Monday at the opening bell.