Document Context

Nibe Limited submitted this intimation to BSE Limited (Scrip Code: 535136) and the National Stock Exchange of India Limited (Symbol: NIBE) on June 16, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure includes a press note refuting allegations made in an article.

Key Allegations Refuted

The company refutes specific allegations that:

  • Mischaracterized India's first 300 KM Universal Rocket Launching System, 'Suryastra', using the term "Screwdriver giri"
  • Questioned the integrity of the fast-track procurement process used by the Indian Army

Contract Details

Nibe Limited confirms it received an Army Purchase Order for the supply of Suryastra Rocket Launcher Systems. The Indian Army signed a ₹293 crore contract with Nibe Limited in January 2026 under the Emergency Procurement (EP) framework authorized by the Defence Acquisition Council (DAC).

Technical Capabilities and Performance

The Suryastra system successfully completed rigorous technical evaluations on May 18 and 19, 2026, at the Integrated Test Range (ITR) in Chandipur, Odisha. The system performed flawlessly across both variants:

  • 150 km tactical variant recorded a precision Circular Error Probable (CEP) of 1.5 meters
  • 300 km deep-strike variant recorded a CEP of 2.0 meters

Manufacturing and Indigenization

Nibe Limited has established a 200-acre integrated Defence Manufacturing Complex in Shirdi, Maharashtra, which handles:

  • Core engineering
  • Indigenous structural integration
  • 155mm ammunition plants
  • Advanced rocket component localization

The company references a Technology Collaboration Agreement (TCA) from March 2025 that leverages global partnerships while maintaining domestic development roots.

Legal and Regulatory Context

The procurement process complied with all stringent legal, financial, and procedural audits mandated under the Emergency Procurement ceiling. The company states that the EP framework is specifically designed to eliminate bureaucratic delays and rapidly close operational gaps at sensitive borders.

Company Action

Nibe Limited is issuing a formal notice to the publication Bharat Shakti demanding an immediate correction of what it describes as "malicious inaccuracies."

About the Company

Nibe Limited describes itself as an Indian defence manufacturer specializing in next-generation strategic defense systems, heavy engineering, ammunition manufacturing, and space technologies.

#Tags: #NibeLimited #DefenceContract #SEBIRegulation30 #RegulatoryCompliance #DefenceManufacturing #Neutral