NRB Bearing Limited — Important, 21-01-2025: General Updates

A family settlement agreement has been established involving the HSZ and DSS Families, focusing on the management and control of NRB Bearings Limited (NRB) and its subsidiary, NRB Industrial Bearings Limited (NIBL). The HSZ Family will gain exclusive ownership and control over NRB, while the DSS Family will manage NIBL.

Key terms include the transfer of approximately 0.89% of NRB's equity from the DSS Family to the HSZ Family, the cessation of director claims by both families in NRB and NIBL, and a sum of INR 318 Crore to be paid from HSZ to DSS, along with additional payments to family members.

This realignment solidifies the HSZ Family's management of NRB and the DSS Family's control of NIBL, reflecting a strategic division of interests among the families. Shareholders should monitor this development for implications on management continuity and potential future governance structures.