Jupiter Wagons Limited has completed the acquisition of the remaining 1.94% equity stake in Jupiter Tatravagonka Railwheel Factory Private Limited, a material subsidiary engaged in manufacturing railway rolling stock components. The move consolidates full ownership of the entity, which reported a turnover of ₹521.64 crore in FY25-26, allowing Jupiter Wagons to capture all operational and financial benefits from the subsidiary’s production of wheels, axles, and wheel sets.

The acquisition was executed pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Jupiter Wagons purchased 63,57,552 equity shares from existing shareholders for a total cash consideration of ₹165,296,352. No governmental or regulatory approvals were required for this transaction, as it did not constitute a related party transaction under the Listing Regulations.

Transaction Details

The acquisition brings Jupiter Wagons' aggregate shareholding in Jupiter Tatravagonka Railwheel Factory Private Limited from 98.06% to 100% of its total paid-up equity share capital. The target entity operates manufacturing plants in Chhatrapati Sambhajinagar (Aurangabad), Maharashtra, and Khordha, Odisha.

Subsidiary Financial Profile

Jupiter Tatravagonka Railwheel Factory Private Limited has demonstrated significant revenue growth over the past three fiscal years. Incorporated on February 08, 2013, the subsidiary manufactures wheels (capacity: 2,20,000 per annum), axles (75,000 per annum), and wheel sets (56,000 per annum). These components are primarily used in railway rolling stocks.

What the Numbers Show

The turnover of Jupiter Tatravagonka Railwheel Factory Private Limited has more than tripled from ₹163.78 crore in FY23-24 to ₹521.64 crore in FY25-26. This rapid expansion underscores the strategic importance of the subsidiary within Jupiter Wagons’ portfolio. By acquiring the minority interest, Jupiter Wagons eliminates minority interest expenses and aligns the entire value chain of its rail component manufacturing business under single corporate control. The absence of promoter or group company interest in the target entity, other than through the listed company itself, simplifies the consolidation process and ensures clean attribution of future earnings.

Jupiter Wagons appointed Ms. Ranjini Roy and Ms. Siddhi Singhania as Additional Directors in the category of Non-Executive Independent Directors for a term of five consecutive years effective July 9, 2026, subject to the approval of the shareholders. The appointments were approved by the Board of Directors during a meeting held on July 9, 2026, based on the recommendations of the Nomination & Remuneration Committee. These additions to the Board are aimed at strengthening corporate governance and bringing diverse expertise to the company.

Ms. Ranjini Roy (DIN: 11774372) is a senior business leader with over 25 years of experience across the Aditya Birla Group, TCG, and Avalon Consulting Group. Her expertise spans strategy, growth, customer-centric transformation, and brand management, having worked with Fortune 500 companies across sectors such as FMCG, Metals, BFSI, and Logistics. Ms. Siddhi Singhania (DIN: 07144036) is a Practising Company Secretary and an Associate Member of ICSI with over 12 years of experience. She specializes in corporate governance, regulatory matters, and board advisory, serving listed and unlisted companies.

The Board confirmed that neither appointee is related to any existing director on the Board. Furthermore, the company disclosed that both Ms. Roy and Ms. Singhania are not debarred from holding the office of director pursuant to any SEBI order or any other authority. The information was provided in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In addition to the director appointments, the Board approved the shifting of the corporate office address. The registered office will move from 4/2, Middleton Street, Kolkata-700071 to 16, Taratalla Road, Alipore, Kolkata-700088, effective July 16, 2026. The Board meeting commenced at 1:00 P.M. and concluded at 1:45 P.M. on July 9, 2026.

The details of the appointments and the requisite disclosures are available on the company's website. The appointments are subject to shareholder approval, with the tenure set to run until July 8, 2031.