Bharat Forge confirms L1 bidder status for Indian Army carbine program

Bharat Forge Limited (BFL) has confirmed it is the L1 (lowest) bidder for the Indian Army's Close Quarters Battle (CQB) Carbine requirement. The company submitted its bid in March 2023 for the supply of 425,000 CQB Carbines. Following rigorous trials by the Indian Army, commercial bids were opened in July 2025, with BFL qualifying as the L1 bidder for 60% of the total order. The contract finalization process is currently underway with the Ministry of Defence, and the agreement has not yet been signed.

The company's clarification comes in response to queries from the BSE and NSE regarding a news item on www.cnbctv18.com dated October 23, 2025. The Indian Army referenced this program and provided updates during a press conference on October 22, 2025. BFL reiterated that it would inform the Stock Exchange(s) once the definitive agreement is signed, subject to materiality thresholds.

Bharat Forge stated that there is no other material information available that could explain any movement in its trading price, beyond the details provided about the carbine program. The company also confirmed no new regulatory or legal proceedings to report beyond what has already been communicated to the Stock Exchange(s).