Subex share price jumps 9% after European deal win; key details

Subex Ltd shares jumped 9 per cent after the company said it had secured a 0.6 million euro deal from a major European open-access fibre operator. In a regulatory filing under Regulation 30 read with Para B of Part A of Schedule III of the Securities and Exchange Board of India Regulations, 2015, the company said it had won a new-logo engagement in Europe.

Under the three-year agreement, Subex will deploy its Partner Ecosystem Management solution as a fully hosted and managed service. The company said the engagement will help the operator expand its wholesale business ecosystem while improving operational efficiency, scalability and accuracy as network complexity increases. Following the developments, the stock rose 9.42 per cent to hit a high of Rs 18.70 on BSE.

Subex said the engagement includes end-to-end operations, professional services and ongoing support. This will allow the operator to manage complex settlement processes without having to maintain internal systems. The company also said a press release on the development had been enclosed with the filing.

The company described the customer as an international entity and said the nature of the contract was the deployment of Partner Ecosystem Management solutions for the operator's wholesale business. It said the deal, valued at 0.6 million euro, would run for a period of three years.

Commenting on the engagement, Nisha Dutt, MD and CEO of Subex, said: "Wholesale Business is one of the most demanding settlement environments in telecom and winning a new operator of this scale in Europe reflects the strength of our direction. We’re not just delivering software, we're operating the Partner Ecosystem Management solution for them, and that is a model we intend to scale across the region."

Subex said the win further strengthens its position in the European wholesale market and adds to its expansion in the region.