NRB Industrial Bearings Limited — Important, 23-01-2025: Disclosure of material issue

The recent disclosure clarifies a Family Settlement Agreement among the Sahney family members concerning the management and ownership of NRB and NIBL. It confirms that NIBL will not participate in the agreement, which exclusively vests ownership and control of its group with the DSS Family, while the NRB Group will be managed by the HSZ Family. Key financial implications include a total payment of INR 318 Crores from HSZ to the DSS Family, along with individual payments of INR 10 Crores to another family member.

This settlement aims to ensure peace among family members, redefining the distribution of shares and control over associated trusts, which own 34.88% and 38.95% of NRB and NIBL, respectively. Importantly, certain family members will relinquish their rights and roles as trustees, solidifying the respective families' controls over their designated groups. Investors should monitor the implementation of this settlement, as it may affect the governance structure and strategic direction of NIBL.