NIBE Limited has announced securing a significant defense contract worth ₹292.69 crore from the Indian Army, Ministry of Defence, Government of India. The aerospace and defense company disclosed this major contract win through a regulatory filing under SEBI Regulation 30, marking a substantial business achievement for the small-cap firm.

Contract Specifications

The contract involves manufacturing and supply of Ground Equipment, Accessories, ESP and Ammunition for Universal Rocket Launcher System. The system is designed to integrate multiple rocket types, including rockets capable of striking targets at long ranges of 150km and 300km.

Delivery and Performance Terms

The order will be executed and delivered in tranches within 12 months from the contract signing. As part of the agreement terms, NIBE Limited must furnish a Performance cum Warranty Bank Guarantee equal to 10% of the total contract price within 30 days of contract signing.

Company Profile

NIBE Limited operates in the aerospace and defense sector with a market capitalization of ₹1,549.03 crores, positioning it in the small-cap category. The company specializes in defense manufacturing and has established itself as a capable supplier for India's defense requirements.

This contract represents a significant opportunity for NIBE Limited in India's expanding defense sector, demonstrating the company's technical capabilities in manufacturing advanced rocket launcher systems for the Indian Armed Forces.

NIBE Limited has issued a corrigendum to its December 23, 2025 board meeting outcome, correcting a typographical error in the issue price for its preferential allotment of equity shares and warrants. The company clarified that the correct issue price is ₹1,258 per security instead of the previously announced ₹1,248, resulting in a revised total fund raising amount of ₹251.85 crores.

Corrected Fund Raising Structure

The revised securities issuance structure reflects the corrected pricing:

The equity shares carry a face value of ₹10.00 each with a premium of ₹1,248.00 per share. The equity warrants are fully convertible into equivalent equity shares within 18 months from the date of allotment.

Revised Allotment Details

The preferential issue allocation among four identified investors has been updated with corrected amounts:

Regulatory Compliance and Pricing

The corrected issue price of ₹1,258.00 per security has been determined in accordance with Regulation 164 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company emphasized that except for the inadvertent typographical error in the issue price and resultant total issue amount, all other disclosures and information provided earlier remain unchanged.

Capital Structure Impact

Upon complete allotment of equity shares and conversion of all warrants, the company's paid-up equity share capital will increase from ₹14.50 crores to ₹16.50 crores. The new securities will rank pari passu with existing equity shares in all respects. The Extra-Ordinary General Meeting remains scheduled for January 22, 2026, to be conducted through video conferencing for shareholder approval.