Jupiter Wagons rallies 4% on Rs 271-crore Bonatrans acquisition

Jupiter Wagons: Post acquisition, the Bonatrans India has become the subsidiary of the company.

Shares of Jupiter Wagons rallied 4 percent in the opening trade on March 21 after the company completed the acquisition of Bonatrans India Private Limited (BIPL) for Rs 271 crore through a share purchase agreement with its existing shareholders.

The deal has made Bonatrans India a subsidiary of Jupiter Wagons.

BIPL, based in Chhatrapati Sambhajinagar (Aurangabad), Maharashtra, manufactures rolling stock wheelsets. With a production capacity of 20,000 Wheels and 10,000 Axles annually, the acquisition promises to bolster Jupiter's self-reliance and operational efficiency while reducing dependency on imported wheels.

Earlier this month, the company bagged a Rs 957-crore contract from the Ministry of Railways (Railway Board) for the manufacturing and supply of BOSM Wagons

Source: Money Control