Kolkata: Adventz Group’s Texmaco Rail & Engineering, one of the leading railway companies in the country, is acquiring a 51% stake in Saira Asia Interiors Private Limited from a clutch of private investors.
Saira Asia is a railway interior company with international customers like Bombardier, Alstom and Hyundai-Rotem in its portfolio. The cost of acquisition was over Rs 9 crore.Vice chairman of Texmaco, Indrajit Mookerjee, told TOI that the acquisition would lead to business expansion, ranging from freight to passenger mobility. He said the company excelled in passenger coach interiors and had done the interior of Vande Bharat. The company has a state-of-the-art facility at Vadodara in Gujarat. Mookerjee said the acquisition would infuse working capital into the company. An official said the company had a turnover of Rs 40-50 crore and had the potential to achieve a target of Rs500-600 crore in the next few years. Managing director of Texmaco, Sudipta Mukherjee, said that Saira had designed the interior of Delhi Metro.
He said the acquisition would make the company a comprehensive mechanical partner in the commuter mobility segment (car body shell and interiors) and would provide solutions to address the evolving demands of the railway sector.
Sagar Brahmbhatt, director of Saira Asia, stressed the importance of the passenger railway market in India. TNN