NIBE Ltd enters into licensing agreement with VRDE, Ahmednagar

NIBE Ltd has entered into a 'Licensing Agreement with Director, Vehicles Research and Development Establishment (VRDE), Ahmednagar a constituent laboratory under Defence Research and Development Organization (DRDO), Ministry of Defence, Government of India and Director, Industry Interface and Technology Management (DIITM) for transfer of technology of Expandable Mobile Shelters which has been developed by DRDO during the course of its research activities. This agreement is effective form February 22, 2024.

DRDO grants a non-exclusive license for 10 years from date of its execution to utilize Expandable Mobile Shelters for manufacture in India for end use/ supply to Armed Forces etc.

The Company will pay royalty for Technology transfer to DRDO as may be mutually decided between both the parties.

The product developed by DRDO and manufactured, marketed by the Company shall have marking, "Product Developed by DRDO" or words to this effect.

Shares of NIBE Ltd was last trading in BSE at Rs. 1456.45 as compared to the previous close of Rs. 1533.10. The total number of shares traded during the day was 40966 in over 1792 trades.

The stock hit an intraday high of Rs. 1557.95 and intraday low of 1456.45. The net turnover during the day was Rs. 60340686.00.

Source : Equity Bulls

Keywords

NIBE INE149O01018 LicensingAgreement VRDE DRDO DIITM TechnologyTransfer ExpandableMobileShelters