NIBE Limited has informed the Exchange about Memorandum of Understanding/Agreements
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NIBE Limited has signed a Licensing Agreement with DRDO's Research & Development Establishment (Engineers) in Pune for the transfer of technology to manufacture Modular Bridging Systems (ranging from 14m to 46m) in India. The company will pay a total consideration of Rs 3.76 crore in tranches for this technology. Under the 10-year agreement, NIBE will manufacture these mobile bridging systems for use by the Indian Armed Forces and other Central/State Government agencies. DRDO will provide the complete technical know-how and testing methods, and NIBE must launch the products within 24 months. This is a domestic agreement and is not a related party transaction.
This is a positive development for NIBE Limited as it gains access to DRDO-developed defence technology, opening up business opportunities in supplying modular bridging systems to the Indian Armed Forces and government agencies. It strengthens the company's defence manufacturing portfolio but involves a relatively small upfront payment of Rs 3.76 crore, with revenue potential depending on government orders over the 10-year period.