Texmaco Rail & Engineering Limited has informed the Exchange about Announcement Under Reg 30 LODR - Joint Venture Agreement
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Texmaco Rail & Engineering's board, at its meeting on 27 August 2025, approved a joint venture agreement with Rail Vikas Nigam Limited (RVNL), a Government of India PSU. Under the deal, Texmaco will hold 49% and RVNL will hold 51% in a new JV company to be incorporated. Texmaco's investment is ₹4.9 crore in cash. The JV will focus on manufacturing and maintenance of freight and passenger rolling stock, locomotives, coaches, wagons, trainsets, metro coaches, executing EPC rail infrastructure projects, bidding for domestic and international tenders, and operating railway workshops and depots. The transaction is expected to close by 31 December 2025 and is not a related-party transaction.
This is a positive development — partnering with RVNL, a major government rail PSU, gives Texmaco better access to large rail infrastructure orders and strengthens its position in its core rolling stock and EPC business, though the ₹4.9 crore investment size is modest relative to Texmaco's overall scale.