RRP Defense Ltd enters into MNDA with Taharbadkar Solutions Pvt Ltd

RRP Defense Limited ('The Company') (Formerly known as Euro Asia Exports Limited) has entered into Mutual Non-Disclosure agreement ("MNDA") with Taharbadkar Solutions Private Limited.

The parties to the Agreement Shall collaborate for the development, supply and commercialization of Component's related to the DART -Dirven Ammunition Reduced Time Flights System being developed under the AIDITI 2 programme of IDEX for Indian Navy application.

The collaboration aims to combine the technical expertise, resources, and domain capabilities of the Parties to ensure effective execution of the project, fulfilment of development requirements, and enabling future commercial deployment, in line with the objectives of the Ministry of Defence innovation framework.

Both Parties have agreed to explore and potentially establish a business arrangement for collaboration on the Vehicle Mounted Swarm Drone System Project. The Agreement provides for the exchange of information, initiation of technical discussions, and sharing of relevant documents to assess and advance the collaboration framework between the Parties.

Further, the Company has received a Letter of Intent (LoI) from the Vendor for an approximate project value of ₹20 crore. The said project shall be executed in 3 Phases as mutually agreed between the parties. Against the said LoI, the Vendor has already placed a purchase order amounting to ₹6,25,40,000/- with the Company.

The overall tenure and completion schedule for the aforesaid transaction is expected to extend up to October 2027.

Shares of RRP Defense LTD. was last trading in BSE at Rs. 936.30 as compared to the previous close of Rs. 945.75. The total number of shares traded during the day was 284 in over 33 trades.

The stock hit an intraday high of Rs. 936.30 and intraday low of 936.30. The net turnover during the day was Rs. 265909.00.

Source : Equity Bulls

Keywords

RRPDefense INE535P01015 MNDA TaharbadkarSolutions