Jupiter Wagons Ltd. (JWL) completed its listing on the bourses. Erstwhile, CEBBCO was acquired by JWL in a buyout (of its organization). The equity shares of the company have commenced trading on the BSE and the NSE under the new ticker symbol ‘JWL. The business will have 38,74,47,419 shares at the exchange under the provisions of the amended merger agreement.
The consolidation will result in significant synergies between business operations, allowing for more efficient cash management and unrestricted access to cash flow to be deployed more efficiently to fund growth opportunities. The group revenue of JWL currently stands at Rs 1,178.35 crores. Jupiter Group has signed up MOU with CAF, Spain, for the manufacturing and supply of Metro coaches and similar Urban Rapid Mass Transit Systems along with Main Line High Speed Trains through a Joint Venture Company in India.
Vivek Lohia, Managing Director, Jupiter Wagons Ltd., said, “As a result of the merger, JWL will be able to use its financial strength to undertake a growth phase that will include upgrading operations to meet current industry demand, expanding into new product development, and market sector consolidation. It will also contribute to the formation of a powerful organization with more capital and assets,”
JWL recently entered the electric mobility market with the launch of ‘Jupiter Electric Mobility’ (JEM), focusing on commercial EV vehicles. The company has formed a joint venture with EA GreenPower Private Limited, a wholly-owned subsidiary of GreenPower Motor Company Inc.(“GreenPower”).