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The board of directors of Jupiter Wagons Ltd has approved the acquisition of Bonatrans India Pvt Ltd, by acquiring 94.25 per cent of shares for a consideration of ₹271 crore.
The company will eventually become a subsidiary of Jupiter Wagons.
Bonatrans India, a railways and related service provider, is engaged in the manufacturing of components of rolling stocks such as wheels, axles, and wheel sets. The company was incorporated in February 2013 and has its manufacturing plant in Chhatrapati Sambhajinagar (Aurangabad), Maharashtra.
Jupiter Wagons’ stock declined 1.08 per cent on the NSE, trading at ₹335.35 as of 10.59 am.
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