Aerospace & Defence Penny Stock Under Rs 5 Signs MoU with Premier Explosives Limited
The stock gave Multibagger returns of 160 per cent from its 52-week low of Re 0.92 per share.
Nibe Ordnance and Maritime Limited, formerly Anshuni Commercials Limited, has announced a significant strategic move through its subsidiary, Global Munition Limited. On March 10, 2025, Global Munition entered into a Joint Venture Agreement and Shareholders Agreement with Premier Explosives Limited. This collaboration is designed to establish a joint venture focused on the manufacturing of Defense and Aerospace products. The agreement details the structure of the joint venture, outlining the composition of the Board of Directors, the appointment of key management personnel, and the respective shareholdings of the participating companies.
The joint venture will operate with Global Munition holding a 51 per cent stake and Premier Explosives Limited holding 49 per cent. Key terms of the agreement include special rights such as the ability to appoint directors, first rights to share subscription, and restrictions on changes to the capital structure. The Board will consist of five directors, with Global Munition nominating three and Premier Explosives Limited nominating two. The Chief Executive Officer, Chief Financial Officer, and other Key Managerial Personnel will be jointly appointed. Each company has subscribed to shares at a face value of Rs 10 per share, with Global Munition acquiring 51,000 equity shares and Premier Explosives Limited acquiring 49,000. Furthermore, neither party is related to the promoter, promoter group, or group companies of the other, and the transaction does not fall under related party transactions.
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Earlier, as per the letter, 1,00,000 square meters of land (i.e., 25 per cent of the total 4,00,000 square meters) at Plot No. A-1/1, Shirdi Industrial Area, Shirdi, Maharashtra, has been handed over to Globe Forge Limited (formerly known as Nibe Ordnance Global Limited), a subsidiary of the Company.
Nibe Ordnance & Maritime Ltd, originally incorporated as Anshuni Commercials Limited in 1984 and initially focused on the jewelry trade, has undergone a significant transformation. Under new management, the company is now pivoting towards armament manufacturing. This strategic shift entails the production and sale of a wide array of military equipment, including guns, gun carriages, torpedoes, tanks, armored vehicles, machine guns, rifles, ammunition, and explosives, along with their associated components and spare parts, marking a complete departure from its previous business activities.
The stock’s 52-week high is Rs 2.39 per share and its 52-week low of Re 0.92 per share. The company has a market cap of Rs 37 lakh. According to the shareholding pattern, the promoters of the company own a 74.43 per cent stake in the company and the rest 25.57 per cent is owned by public shareholders. The stock gave multibagger returns of 160 per cent from its 52-week low of Re 0.92 per share.
Disclaimer: The article is for informational purposes only and not investment advice.