Maiden Forgings Limited has achieved a significant milestone in its defence sector expansion by securing provisional registration as an Approved Industry Partner with the Terminal Ballistics Research Laboratory (TBRL) under the Defence Research and Development Organisation (DRDO). The company announced this development through a regulatory filing on January 20, 2026.

Registration Details and Scope

The provisional registration grants Maiden Forgings Limited the authorization to participate in tenders and procurement processes specifically related to TBRL and DRDO operations. This partnership status is subject to applicable terms and conditions as outlined by the defence research organization.

Strategic Implications for Defence Sector Participation

The DRDO-TBRL partnership opens new avenues for Maiden Forgings Limited to engage with India's premier defence research establishment. Terminal Ballistics Research Laboratory specializes in terminal ballistics research and development, focusing on ammunition, explosives, and related defence technologies. This registration positions the company to contribute to critical defence research and manufacturing initiatives.

Regulatory Compliance and Disclosure

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Monika Negi signed the disclosure document, ensuring proper regulatory adherence and stakeholder communication.

This development represents a strategic advancement for Maiden Forgings Limited in establishing its credentials within India's defence manufacturing ecosystem and accessing specialized procurement opportunities through DRDO's research network.

Maiden Forgings Limited has announced that it will not proceed with the planned allotment of shares due to unavoidable circumstances involving delayed investor funding. The company made this disclosure to BSE Limited on January 16, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Share Allotment Details

The company's announcement provides key information about the failed share allotment:

Regulatory Compliance and Next Steps

The communication, signed by Managing Director Nishant Garg (DIN: 3088601), indicates that the matter is currently under consideration by the company's management. Maiden Forgings has committed to taking appropriate steps in accordance with applicable laws and regulations governing such situations.

The company has assured stakeholders that any further developments regarding this matter will be duly communicated to the stock exchange and other concerned parties. This follows standard regulatory protocol for listed companies when material events affect previously announced corporate actions.

Impact on Corporate Plans

The non-allotment represents a setback to the company's funding plans, as the proposed investor's failure to provide the requisite funds within the agreed timeframe has forced the company to halt the share allotment process. The company's reference to "unavoidable circumstances" suggests external factors beyond its immediate control contributed to this outcome.

Maiden Forgings continues to evaluate its options and will provide updates as the situation develops, ensuring full compliance with disclosure requirements under SEBI regulations.