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Nibe signs LoI with HBE, South Korea

06 Nov 2024 Evaluate

Nibe has signed a Letter of Intent (LoI) with HBE, South Korea to set-up a joint venture for forging facilities in India to manufacture defence and aerospace products. In proposed JV Nibe and HBE will hold in the ratio of 51:49. The aforesaid LoI is a non-binding subject to due diligence, various regulatory & legal permissions/approval and definitive agreement.

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.


NIBE Share Price

1770.20 -62.15 (-3.39%)
23-Jun-2026 16:59 View Price Chart
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