Defence Acquisition Council (DAC) accorded AoN for procurement of Next Generation Corvettes (NGC) at an estimated cost of approx. 36,000cr in June 2022. GRSE’s in its Q4FY23 investor call mentioned that the shipyard expects RFP to be released in second half of calendar year 2024, MDL in its Q1FY24 call has stated that the RFP is expected around the end of this year, it isn’t clear if it is the end of calendar year or the fiscal year. The project is expected to be divided between two shipyards with L1 getting 5 and L2 receiving 3 hulls.