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Texmaco Rail & Engineering to acquire 76% stake in Bright Power for Rs 100 crore

15 Sep 2015 Evaluate

Texmaco Rail & Engineering has received an approval for execution of a non-binding term-sheet with promoters of Bright Power Projects (India) (Bright Power) for the acquisition of majority equity share capital (76%) of Bright Power at an enterprise value of about Rs 100 crore, subject to applicable conditions. The board of directors at their meeting held on September 14, 2015 has approved for the same.

The mentioned acquisition will be funded out of the internal accruals of the company. The object of acquisition of shares of Bright Power by the company is to enter into OHE Rail Sector which will enable the company to strengthen its positioning as a total rail solution provider company.

Bright Power is an EPC company, specializing in over head electrification (OHE) solutions for the Indian Railways. It also serves diverse sectors such as power, utilities, petrochemicals, pharmaceuticals and real estate.


Texmaco Rail & Eng. Share Price

106.04 2.44 (2.36%)
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