Jupiter Wagons To Acquire Bonatrans India For $33 Mln

Jupiter Wagons Ltd. said its board approved the acquisition of railway components maker Bonatrans India Private Ltd. for about 271 crore rupees ($33 million) in cash.

The acquisition will help meet the captive requirement of the company as well as cater to the evolving demand in domestic and export markets, Jupiter Wagons said in a stock exchange filing.

Bonatrans, which manufactures components of rolling stocks such as wheels, axles and wheel sets, has manufacturing plant in Chhatrapati Sambhajinagar (Aurangabad) in Maharashtra state. It has the capacity to produce 20,000 pieces of wheels and 10,000 pieces of axles per annum.

Jupiter, which is acquiring a 94.25% stake in Bonatrans, said the deal is likely to conclude within 30 days.

Bonatrans reported a turnover of 63.50 crore rupees in FY23, up from 51 crore rupees a year earlier, according to the statement.

Note: $1 = 83.0062 Indian rupees

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