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Texmaco Rail to acquire Jindal Rail Infrastructure for Rs 615 crore
Jul-26-2024

Texmaco Rail & Engineering (Texmaco) has entered into definitive agreements with Jindal Rail & Infrastructure (JRIL), JITF Urban Infrastructure Services, and Siddeshwari Tradex for the acquisition of 100 percent of the share capital of JRIL on a fully diluted basis. The transaction is subject to certain adjustments at closing specified in the definitive agreements.

Texmaco has agreed to acquire the entire shareholding of JRIL for a cash consideration of Rs 615 crore which is subject to certain closing adjustments. The Enterprise Value of JRIL is Rs 687 crore and the transaction represents an acquisition FY 2024 EV/ EBITDA multiple of 8.1x. While definitive agreements have been executed on July 25, 2024, the transaction is subject to certain conditions precedent for closing which are expected to be completed within 45 days.

This acquisition marks a significant milestone in Texmaco’s journey to expand its strategic capabilities and market presence, positioning the Company for sustained growth and innovation in the railway manufacturing industry.

Texmaco Rail & Engineering is a private engineering and infrastructure company based in India. It is primarily engaged in the business of manufacturing railway wagons, coaches, and locomotives, as well as providing related services.

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