Recently listed smallcap defence firm Nibe Ltd. entered into a licensing pact with the Ministry of Defence for the transfer of modular bridging system technology, as per a disclosure to the exchanges on Saturday.
Modular bridging systems, built using pre-fabricated components, are designed for swift assembly and deployment, making them vital in military operations and emergency rescue efforts. These systems allow for the quick construction of temporary bridges, ensuring connectivity in crisis zones where traditional infrastructure is damaged or unavailable.
The modular bridging systems will consist of various lengths from 14 metres to 46 metres. Nibe is expected to pay a total consideration of 3.76 crores in tranches to utilise the technology for a period of 10 years from the date of agreement. The company is set to launch the products within 24 months.
“DRDO will provide complete details of technical know-how and testing method for the same,” stated the filing.
Recently, shares of Nibe had hit the upper circuit after the company received an export order from a well-known international Israel-based defence firm. The order worth Rs 151 crore is for the manufacturing and supply of universal rocket launchers. These rocket launchers will have a range of up to 300 km and will be produced in India.
“The Universal Rocket Launcher is among the most advanced in its class and is designed to outperform currently available global alternatives,” the company said in a statement on Tuesday.
Nibe also said that with this order they reaffirm their commitment to ‘Atmanirbhar Bharat’ and ‘Make In India’.
On Friday, shares of the defence firm closed 0.20% higher on the NSE at Rs 1,678 apiece, as compared to a 1.02% advance in the Nifty 50.
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