NIBE has acquired remaining 50% stake in Indigenous Casting Technology (Indigenous) on receipt of NOC from MIDC along with its all assets and liabilities. Pursuant to aforesaid acquisition of remaining 50% stake, Indigenous has become Wholly Owned Subsidiary of the Company with effect from March 22, 2023 in terms of section 2(87) of the Companies Act, 2013.
NIBE (Formerly known as Kavita fabrics) manufactures synthetic fabrics in the form of semi-finished sarees and dress materials. These products are offered in various designs as per customer requirements.
