NIBE has entered into a supply contract with the Indian Army, under the Ministry of Defence, for a total consideration of ₹292.69 crore, inclusive of all taxes and duties. The company disclosed the development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
As per the contract terms, NIBE will manufacture and supply ground equipment, accessories, ESP, and ammunition for a Universal Rocket Launcher System. The system is designed to support multiple rocket types, including variants with strike ranges of 150 km and 300 km. The scope of work is limited to manufacturing and supply as specified in the agreement.
The contract has been awarded by a domestic entity and does not fall under related-party transactions. The company has stated that neither the promoter nor the promoter group has any interest in the entity awarding the contract. In line with the agreement, NIBE is required to submit a performance-cum-warranty bank guarantee amounting to 10% of the total contract value within 30 days of signing.
Execution of the order will be carried out in tranches over a period of 12 months. Deliveries will be made as per the schedule outlined in the contract.
