Global Defence Industries Limited Issues Corporate Guarantee for Subsidiary
Global Defence Industries Limited, formerly known as Nibe Ordnance and Maritime Limited, announced on March 26, 2026, that its Board of Directors approved the issuance of a corporate guarantee. The guarantee, issued in favor of Cosmos Co-op. Bank Limited, secures credit facilities of 230 Crores for Globe Forge Limited, a subsidiary of the company in which Global Defence Industries Limited holds 66.10% of the paid-up equity share capital.The corporate guarantee will be in effect for a period of 96 months, commencing from the date of the first disbursement. According to the company, the guarantee will be issued on an arm’s length basis. Promoters Mr. Ganesh Ramesh Nibe, Mrs. Manjusha Ganesh Nibe, and Mr. Bhagesh Ganesh Nibe, are interested in the transaction to the extent of their shareholding in Globe Forge Limited.
The company stated that the guarantee is not expected to have a material impact on its financial performance beyond the required disclosure in the financial statements.
The Board meeting convened on March 26, 2026, began at 12:30 p.m. and concluded at 1:00 p.m.
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