Transaction Details
- Counterparty: KIN Railway Equipment Private Limited (KIN)
- Transaction Type: Proposed acquisition of KIN's business through slump sale or asset purchase
- Transaction Value: ₹48 crores
- Funding: Combination of debt and internal accruals
- Location: KIN's business is based in Coimbatore, Tamil Nadu
- Current Status: MOU signed on September 14, 2026
- Conditions: Subject to completion of due diligence, regulatory approvals, and execution of definitive agreements
Acquisition Assets & Capabilities
The proposed acquisition includes:
- Manufacturing infrastructure
- Technical qualifications
- Certifications
- Inventory
- Customer relationships
- KIN has established capabilities in metro rail, rolling stock, coach interiors, and railway equipment segments
Financial & Operational Impact
- Order Book: The business under acquisition carries an order book of ₹180 crores
- Strategic Rationale: Strengthens Airfloa's position in metro interiors and coach manufacturing segments while expanding reach across domestic and export markets
- Capacity Enhancement: Enhances manufacturing capacity, technical capabilities, and execution strength
- Strategic Objective: Advances Airfloa's strategy of building a scaled, diversified rail and mobility manufacturing platform with deeper presence across the transportation value chain
Company Background
Airfloa Rail Technology Limited is a leading manufacturer of rolling stock components for Indian Railways with operations spanning key production units including the Integral Coach Factory and other major coach factories. The company:
- Has over 27 years of operating experience
- Operates two manufacturing facilities
- Has two core business verticals (railway components and aerospace/defense)
- Has successfully delivered nine marquee turnkey rail projects including Sri Lankan DEMU and Mainline Export Coaches, Agra–Kanpur Metro, RRTS, Vistadome, and Vande Bharat Express
- Caters to global rail OEMs and multiple divisions of Indian Railways
- Possesses fully integrated in-house capabilities covering engineering, design, tooling, finishing, material development, and assembly