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NIBE informs about execution of letter of intent

06 Nov 2024 Evaluate
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, NIBE has informed that the Company 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. They will update from time to time the further development in the matter, as and when occurred.

The above information is a part of company’s filings submitted to BSE.

NIBE Share Price

1061.15 7.60 (0.72%)
20-Apr-2026 16:59 View Price Chart
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