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Stock Report
RRP Defense Ltd enters into LoI with CYGR for Drone Command System Manufacturing to Indian Facility
Posted On : 2025-07-18 11:42:54( TIMEZONE : IST )
RRP Defense Limited, (Formerly known as Euro Asia Exports Limited) ("the Company") has entered into a Letter of Intent with CYGR, a Franco-American and drone technology company, a leading global developer of tactical unmanned aerial systems and command architecture platforms.
CYGR has allocated the production, assembly, and testing of CYGR's proprietary Drone Command Modules (DCMs) and related mission management units to the Indian manufacturing facility operated under the strategic partner, RRP Defense Ltd.
The value of the manufacturing contract for exports to existing clients of CYGR is estimated to be in the range of USD 20-30 million, covering the production of approximately 800-1000 units of command and control equipment. This production and associated responsibilities will be transferred to the Indian facility operated by RRP Defense Ltd.
Both parties acknowledge that this LOI is a statement of intent and not a binding agreement. A definitive contract outlining scope, timelines, licensing, sovereign security assurances, and export compliances will be jointly negotiated and executed.
This initiative is aligned with our long-term vision to strengthen bilateral industrial cooperation, enhance supply chain resilience, and support the Make in India - Secure by Design strategic defence manufacturing ecosystem.
This initiative marks a significant step towards India's technological and defence self-reliance under the Atmanirbhar Bharat vision.
The Company has already initiated the process of incorporation by applying the name "Vimanu Limited" with the Ministry of Corporate Affairs.
Shares of RRP Defense Limited, (Formerly known as Euro Asia Exports Limited) was last trading in BSE at Rs. 219.55 as compared to the previous close of Rs. 215.25. The total number of shares traded during the day was 50 in over 1 trades.
The stock hit an intraday high of Rs. 219.55 and intraday low of 219.55. The net turnover during the day was Rs. 10977.00.
