Tatravagonka Picks Minority Stake in Jupiter Group

Slovakian railway wagon manufacturer Tatravagonka A.S., has picked up a significant minority stake in Kolkata-based Jupiter Group, for an undisclosed amount.

The Jupiter Group manufactures railway switches, wagons and crossings.

It received funding through primary infusion as well as secondary transfers from the existing promoters of the company. Initially, Tatravagonka has picked a minority stake and plans to invest more money in Jupiter’s two companies—Jupiter Wagons Ltd and Jupiter Alloys & Steel Ltd in tranches to acquire up to 50 per cent stake.

The first round of the deal closed last week.

Jupiter is a manufacturer of railway wagons, wagon components and casting in India. It has also ventured into manufacturing of AC EMU/MEMU and passenger coaches for Indian Railways. Besides, it manufactures railway turnouts for Indian Railways and global markets.