Bengaluru: In a landmark defence collaboration, Bharat Electronics Limited (BEL) has approved a 50:50 joint venture with Safran Electronics & Defense (SED), France to manufacture and maintain guidance kits for the HAMMER Weapon System in India. The decision was taken at BEL’s Board meeting on 15 February 2026 and disclosed to stock exchanges under SEBI regulations.
Centre of Excellence to be Established in India
Under the Joint Venture Agreement (JVA), BEL and SED will form a Private Limited Company, with its registered office in Pune or any mutually agreed location. The JV will establish a Centre of Excellence functioning as a technology-cum-teaming partner for:
- Manufacturing, supply, and repair of Guidance Kits (GK) for the HAMMER Weapon System
- Maintenance and lifecycle support for the system
The primary end users of the system will be the Indian Air Force and Indian Navy, with potential expansion to other domestic users as mutually agreed.
Equal Shareholding and Governance Structure
The JV will operate with 50:50 equity participation between BEL and SED. Key governance features include:
- Board of four directors (two from BEL, two from SED)
- Chairman appointed by nominees without a casting vote
- Initial authorised share capital of ₹1,00,000 (1,000 equity shares of ₹100 each), expandable up to ₹10 crore or as required
BEL clarified that the transaction does not fall under related party transactions.
Strengthening Indo-French Defence Collaboration
The partnership strengthens Indo-French defence industrial cooperation and supports India’s “Make in India” initiative, promoting indigenous defence manufacturing and technology transfer.
The operationalisation of the JV is subject to regulatory and administrative approvals from authorities in both India and France.
The Board meeting commenced at 4:00 PM and concluded at 5:15 PM on February 15, 2026.
About Bharat Electronics Limited (BEL)
Bharat Electronics Limited, a Navratna PSU under the Ministry of Defence, is a leading Indian defence electronics company headquartered in Bengaluru. BEL designs, develops, and manufactures advanced electronic products and systems for the Indian Armed Forces and international clients, contributing significantly to India’s indigenous defence capabilities and technology-driven defence solutions.
