29 Jun , 2026 By : Debdeep Gupta
Shares of Nibe Ltd fell nearly 3% in morning trade on Monday after the defence and aerospace manufacturer announced the resignation of its Chief Executive Officer and Key Managerial Personnel, Prakash Hari Khose.
The stock was trading at Rs 1,610, down 2.79%.
In an exchange filing, the company said Khose resigned from the position due to personal reasons, with his resignation taking effect from the close of business hours on June 25, 2026.
Nibe said Khose has confirmed that there are no material reasons for his resignation other than those stated in his resignation letter.
The resignation comes days after the Pune-based company, on June 17, demonstrated its long-range 120mm vehicle-mounted mortar system, Garudastra, to the Indian Army during a no-cost-no-commitment evaluation at the Infantry School in Mhow.
According to the company, the trials showcased the system's rapid deployment, high rate of fire, Multiple Rounds Simultaneous Impact (MRSI) capability, and precision-strike capability using GPS and laser-guided munitions.
Nibe disclosed the CEO's resignation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and said the resignation letter has been placed on record as part of the filing.
0 Comment