Shares of Frog Cellsat Ltd skyrocketed 9% on 27 May after the company announced receiving a letter of acceptance (LoA) from ACES India Private Limited. 

In its regulatory filing, the company said that they have received a letter of acceptance from ACES India for designing, manufacturing, supplying, and services of an Active DAS System for Noida International Airport that has to be completed during the current financial year 2024-25.

ACES India Private Limited is a Licensed Neutral Host Operator in India. It is a wholly-owned subsidiary of Advanced Communications and Electronics Systems Company, which is headquartered in Saudi Arabia. 

Earlier, the company announced receiving a letter of intent (LoI) from L&T Technology Services worth Rs 7.4 crore to design, manufacture, and supply the IBS System for Bangalore Metro that must be completed during the fiscal year 2024-25.

Frog Cellsat is an India-based technology business that specialises in wireless network coverage and transmission solutions. The company also manufactures telecommunications equipment and second-, third-, and fourth-generation multi-band digital radio frequency repeaters. 

The company has a strong customer base with well-known customers such as Jio, Airtel, Larsen and Toubro, Nokia, Hitachi, ITI, Ericsson, Motorola, Huawei, Indus Towers, Siemens, Bharat Electronics, and many more. 

At 3:30 pm, the shares of Frog Cellsat closed 5.33% higher at Rs 292.55 on NSE.