In terms of Reg 30 and other applicable provisions of the SEBI (LODR) Reg, 2015, we wish to inform you that GRSE attended the Commercial Negotiation Committee (CNC) meeting convened by the Ministry of Defence (MoD) for opening of commercial bids for the acquisition of eight (08) Next Generation Corvettes (NGC) on 21 May 2025 in New Delhi. During the meeting, the Commercial bids were opened and it was noted that GRSE become the Lowest bidder (L1) for construction of Next Generation Corvettes (NGC) for Indian Navy. The L1 bidder will be awarded five (5) NGC Ships at a likely value of more than Rs. 25,000 crores. This is for your information and record.