Nibe Limited has entered into a Licensing Agreement with Vehicles Research & Development Establishment (VRDE), Ahmednagar, Defence Research & Development Organization (DRDO), Ministry of Defence, Government of India for Transfer of Technology to manufacture and sell Anti-Security Vehicle (ATV) in India to Indian Armed Forces/Other Govt. Agencies (Central and State). Significant Terms of the Agreement: To utilize the technology to manufacture and sell in India for end use/supply to Indian Armed Forces/Other Govt.

Agencies (Central and State) only.