Nibe Ltd signs Term Sheet with Sig Sauer, USA for JV in India

Nibe Limited to set-up a joint venture in India with Sig Sauer, USA, (a world renowned firearms and weapons manufacture of premier global military, law enforcement and commercial users) to manufacture weapons and defence products for the Indian military, paramilitary, security and Police Services. In proposed JV Nibe and Sig Sauer will hold in the ratio of 51:49.The aforesaid term sheet is subject to due diligence, various regulatory & legal permissions/approval.

Shares of NIBE Ltd was last trading in BSE at Rs. 1933.30 as compared to the previous close of Rs. 1841.25. The total number of shares traded during the day was 52678 in over 1432 trades.

The stock hit an intraday high of Rs. 1933.30 and intraday low of 1855.00. The net turnover during the day was Rs. 100967658.00.

Source : Equity Bulls

Keywords

NIBE INE149O01018 JV India SigSauer