The 40M Nimród was based on the chassis of the Hungarian 38M Toldi tank, which was itself based the Swedish Landsverk L-60B tank; however the chassis of the Nimród was longer. The vehicle had a crew of six men: commander, driver, two loaders and two gunners.
The vehicle's only armament was a 36M 40 mm Bofors anti-aircraft gun also made in Hungary under license. The gun fired the usual anti-aircraft ammunition as well as a Hungarian anti-tank round. It had a rate of fire of 120 rounds per minute and a penetration of 46 mm at 100 m and 30 mm at 1000 m. The Nimrod carried 160 rounds.
Late in the war, the vehicle was issued with the 42M "Kerngranate" round. This was a rocket grenade fitted over the muzzle in the fashion of a rifle grenade.