NIBE Ltd has announced the signing of a Letter of Intent (LOI) with HBE, a South Korean company, as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This LOI outlines the intent to establish a joint venture (JV) in India focused on setting up forging facilities for manufacturing defence and aerospace products. In the proposed JV, NIBE will hold a 51% stake, while HBE will hold the remaining 49%.
This LOI is non-binding and subject to due diligence, regulatory approvals, and the finalization of a definitive agreement. The company has committed to updating stakeholders on further developments as they occur.
This potential JV marks a significant step for NIBE Ltd, positioning it to expand into the defence and aerospace manufacturing sectors in collaboration with a global partner.
