M&A
Texmaco Rail acquires Jindal Rail Infra for Rs 615 crore
Publicly listed Texmaco Rail & Engineering has acquired 100% stake in rolling stock manufacturer Jindal Rail Infrastructure for INR 615 Cr. The company will pay INR 465 crore and INR 150 crore to the two stakeholders of the company, JITF Urban Infrastructure Service Limited and Siddeshwari Tradex Private Limited, respectively.The acquisition will ramp up Texmaco’s manufacturing capacity, making it the largest producer of wagons in India. It will help Texmo towards leadership in special purpose private freight rolling stock both domestic and international; open opportunities for new product lines, including other rolling stocks; and contribute to the company’s presence in Western India along with unique opportunities for enhanced exports.
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