NIBE Ltd Denies Award of ₹1,600 Cr Indian Army Tender

NIBE Ltd has issued a clarification regarding news articles suggesting they, along with Tata, are likely to secure a ₹1,600 crore loitering munition tender from the Indian Army. The company stated it has not received any formal communication confirming the award of the tender or the final outcome of the bid process. NIBE Ltd clarified that while they continue to participate in business opportunities, no information has been received indicating the tender has been awarded to them. They also confirmed no material events requiring immediate disclosure have occurred, beyond a prior intimation on May 21, 2026, regarding the successful technical trial for the Astra-1 Loitering Munition. The company considers the news speculative and having no material impact on its business as of date.