Texmaco Rail & Engineering Limited informed the exchange that it’s board had approved the acquisition of all of the rights, title and interest in all of the securities of Jindal Rail Infrastructure Limited.
Jindal Rail Infrastructure Limited had a turnover of Rs. 748.37 crores in FY 2023-24.Jindal Rail Infrastructure manufactures rail wagons.
Texmaco said that the acquisition will allow for leadership in special purpose private freight rolling stock both the domestic and international markets, and open opportunities for new product lines including other rolling stocks; and help the company’s presence in western India along with opportunities for enhanced exports.
Texmaco said it would pay JUISL an aggregate consideration amount of 615 crores.