NIBE 's subsidiary, NIBE Space Private Limited, has received a letter of award amounting to ₹12.58 crore (inclusive of all taxes and duties) from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL), a Government of Maharashtra undertaking. The contract pertains to GIS-based survey, mapping, and digital data preparation of MSEDCL's electrical distribution network, underscoring NIBE Space's capabilities in geospatial and utility infrastructure services. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Order Details

The following table summarises the key parameters of the order secured by NIBE Space:

Scope and Significance

The project involves comprehensive digitisation of MSEDCL's electrical distribution network, covering the entire span from 33 KV substations to end consumer service points. The scope encompasses both overhead and underground infrastructure, making it a wide-ranging geospatial documentation exercise. The order is to be executed and delivered in tranches within 42 months, reflecting the scale and complexity of the assignment.

MSEDCL is one of the largest power distribution utilities in India, serving a significant portion of Maharashtra's electricity consumers. Such GIS-based mapping assignments are critical for electricity distribution companies seeking to digitise and accurately document their infrastructure assets, supporting improved operational efficiency, asset management, and network planning. NIBE Space's selection for this project reflects its positioning in the geospatial services and utility network mapping domain.

NIBE Limited has submitted a mandatory regulatory disclosure to stock exchanges, confirming that no encumbrance was created on promoter shares during the financial year ended March 31, 2026. The disclosure was filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Regulatory Compliance Filing

Promoter Ganesh Ramesh Nibe personally submitted the disclosure to both BSE Limited and National Stock Exchange of India Limited on April 02, 2026. The filing was made on behalf of the promoter and promoter group along with persons acting in concert, with the letter addressed directly to both exchanges.

Promoter Declaration Letter

Ganesh Ramesh Nibe, writing from his residence at Flat No. 1701, Tower No. 09, Belmondo, Near MCA Stadium, Gahunje, Salumbre, Pune, Maharashtra, submitted a formal declaration letter to the exchanges. The letter explicitly states that the promoter and promoter group have not created any encumbrance, directly or indirectly, on shares held during the financial year ended March 31, 2026.

The declaration was digitally signed with comprehensive authentication details, confirming that no shares of the company held by promoters are encumbered or pledged as on March 31, 2026. The letter was copied to the Company Secretary & Compliance Officer and Audit Committee at the company's registered office.

Promoter Group Structure

The company's promoter and promoter group comprises 10 members across different categories, as detailed in the regulatory filing:

Corporate Information

NIBE Limited operates from its registered office located at Plot No E-2/2, Phase III, MIDC Industrial Area, Khed, Chakan, Pune, Maharashtra. The disclosure demonstrates the company's commitment to transparency and regulatory compliance, providing stakeholders with formal confirmation regarding the unencumbered status of promoter shareholdings through proper digital authentication and comprehensive documentation.