Texmaco Rail Acquires Jindal Rail for Rs 615 Crore

Texmaco Rail & Engineering Ltd has acquired Jindal Rail Infrastructure Limited for Rs 615 crore. This strategic acquisition aims to expand Texmaco's rolling stock business, enhancing participation in domestic and foreign markets. The deal is the largest in India's rolling stock industry history.

Texmaco Rail & Engineering Ltd (Texmaco) has announced the acquisition of Jindal Rail Infrastructure Limited (JRIL) for approximately Rs 615 crore, marking a significant move in India's rolling stock industry.

According to Texmaco's statement, the company has cemented definitive agreements with JRIL, JITF Urban Infrastructure Services Limited, and Siddeshwari Tradex Private Limited to acquire 100% share capital of JRIL on a fully diluted basis.

Texmaco Chairman Saroj Kumar Poddar emphasized that the acquisition would significantly enhance the company's presence in domestic and international markets, thereby supporting India's economic development.

(With inputs from agencies.)