NRB Industrial Bearings Limited — Important, 21-01-2025: Disclosure of material issue

The Board of Directors of NRB Industrial Bearings Limited has approved an Inter-Company Agreement with NRB Bearings Limited, pending shareholder approval and receipt of INR 55.12 crore. This agreement involves the release of rights to use a commercial property at Dhannur Office, Fort, Mumbai. Key terms include mutual non-solicitation provisions, governance over intellectual property rights, and specific rights for director appointments. Notably, in case of a change in control of the company, there will be a reversion of rights to the NRB brand. The transaction is classified as a related party transaction conducted at arm's length. This development Could enhance operational efficiencies and streamline assets but requires careful monitoring of shareholder sentiment. Watch closely for updates on shareholder approval and the agreement's implementation.