Key Transaction Details

Counterparty: KIN Railway Equipment Private Limited (KIN), registered at Plot No. 28/4, 28/5, Nalligoundenpalayam Pirivu, Puduppalayam Post, Avanashi Taluk, Coimbatore, Thekkalur, Tamil Nadu – 641654

Transaction Purpose and Nature

The agreement is for the acquisition of specified assets and business of KIN Railway Equipment Private Limited. This follows the company's earlier intimation dated August 27, 2026, and is based on satisfactory completion of due diligence and valuation of all assets proposed to be acquired, with subsequent Board approval.

The acquisition comprises:

  • Plant and machinery
  • Inventory
  • Customer and vendor contracts
  • Licenses and approvals
  • Railway registrations
  • Intellectual property rights
  • Technical know-how
  • Goodwill
  • Identified employees

Subject to specific terms, conditions, and exclusions set out in the Sale and Purchase Agreement.

Financial Considerations

Total Consideration: ₹40,80,05,000 (Rupees Forty Crore Eighty Lakh Five Thousand Only)

Payment Terms:

  • Advance payment: ₹5,00,00,000 (Rupees Five Crore Only)
  • 30% of agreed consideration to be paid on or before closing date (November 30, 2026), after adjustment of the ₹5 crore advance payment
  • Remaining 70% to be deposited into an escrow account operated jointly by both parties on or before closing date
  • Escrow amount released to KIN within three working days upon fulfilment of closing conditions and execution of joint Closing Confirmation

Additional Value Transfer

The company will acquire existing purchase orders aggregating to approximately ₹180 Crores currently held by KIN through this acquisition.

Timeline and Cut-off Dates

Cut-off date: October 31, 2026 - for determining assets, inventory, contracts, licenses, approvals, registrations, IP rights, technical know-how, goodwill, and employees

Operations transfer: November 16, 2026 - Company takes over operations

Closing date: November 30, 2026 - for completing entire process

Conditions Precedent

Transitional back-to-back support by KIN towards transfer of customer and vendor contracts, licenses, approvals, railway registrations, intellectual property rights, technical know-how, and other stipulated items.

Related Party Status

This is not a related party transaction. KIN Railway Equipment Private Limited is an unrelated entity, and the promoter/promoter group/group companies have no interest in the entity.

Expected Benefits and Impact

The acquisition, upon successful consummation, will significantly strengthen and enhance the Company's business operations, technical capabilities, and market presence. It will particularly enable the company to pursue greater business opportunities in domestic and international metros, as well as in domestic and international high-speed train segments.