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Texmaco Rail to Acquire Jindal Rail Infrastructure at Rs 615 Cr

Jul 26, 2024

By: BlinkX Research Team

Texmaco Rail & Engineering Limited at its meeting held on July 25, 2024, announced that it has approved the acquisition of all of the rights, title and interest in all of the securities of Jindal Rail Infrastructure Limited for Rs 615 crores.

Key Takeaways from the acquisition

• Texmaco Rail & Engineering Limited has approved the acquisition of all rights, titles, and interests in Jindal Rail Infrastructure Limited’s securities.
• The deal is valued at Rs 615 crores.
• The acquisition is expected to be completed in 57 days.

The company will pay JUISL an aggregate consideration of Rs 465 crore, subject to adjustments at closing per the JUISL SPA. Additionally, Rs 150 crore will be paid to STPL by the STPL SPA. 

The acquisition is set to be completed within 57 days or a mutually agreed extended period, pending satisfaction of conditions as per the Transaction Documents.

About Texmaco Rail

With six manufacturing facilities totaling more than 6.78 million square feet, Texmaco Rail & Engineering Ltd. (TEXMACO) is a major multi-discipline, multi-unit engineering and infrastructure company.

The company manufactures rolling stock, which includes bridges and other steel structures, hydro-mechanical equipment, steel castings, rail EPC, wagons, coaches, EMUs, and loco shells and parts, among other items. To grow and broaden its product portfolio, the company has collaborated technically over the years with well-known multinationals from countries such as Japan, the United States, the United Kingdom, Germany, Australia, Austria, Holland, etc.

Read More About Texmaco Rail Share Price Here!