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

The Board of Directors has approved an Inter-Company Agreement with NRB Industrial Bearings Limited (NIBL). The agreement aims to regulate rights related to intellectual property, as well as the use of certain immovable property located at Dhannur, Fort, Mumbai. NIBL has agreed to relinquish its rights to this property, clarifying any confusion among customers and partners due to shared business addresses. The company will make a payment of Rs. 55.12 crores to NIBL contingent on certain conditions being met. This strategic move may enhance operational clarity and optimize resource allocation between the two companies, suggesting a focus on strengthening business alignment within the promoter group. This agreement could positively influence the operational efficiency and market perception of NRB Bearings.