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

NRB Industrial Bearings Limited has clarified that the previous disclosure regarding a Family Settlement Agreement among the Sahney family remains unchanged. The agreement aims to establish a clear roadmap for future management, ownership, and control of the NRB and NIBL Groups, while mitigating potential disputes. Under this agreement, the family structure includes plans for the redistribution of shares, where the HSZ Family will retain management rights of the NRB Group, while the DSS Family will oversee the NIBL Group. Notably, HSZ Family members will relinquish their interests in NIBL, and a total payment of INR 318 crores will be made from HSZ to DSS. This agreement, effective upon achieving certain conditions, is expected to significantly shape the governance of both groups moving forward. Investors should watch this development closely as it could influence corporate dynamics and stability within the family-owned entities.