Update on Subsidiary Company - Globe Forge Limited
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Awaiting price reaction for this filing.
Nibe Ordnance and Maritime Ltd informed BSE that its subsidiary, Globe Forge Limited (formerly Nibe Ordnance Global Limited), has received possession of a large industrial plot measuring about 3,99,408 square metres (roughly 40 hectares) in the Shirdi Industrial Area, Kopargaon & Rahata taluka, Ahilyanagar district. The plot (No. A-1/1) was originally allotted to the subsidiary by the Maharashtra Industrial Development Corporation (MIDC) via letter dated February 5, 2025, and possession was formally handed over on November 25, 2025. This is a follow-up to earlier intimations dated January 11, February 5, and February 24, 2025, and is filed under SEBI LODR Regulation 30. The filing does not disclose the planned use of the land, capex, or any revenue impact.
This is an infrastructure milestone for the subsidiary — securing a sizable industrial land parcel from a state agency signals preparation for future manufacturing or expansion activity. For shareholders, it is a positive operational step but lacks details on investment, timelines, or revenue potential, so near-term stock impact is likely limited until the company clarifies the project.