Transrail Lighting Ltd Approves Acquisition of Cooling Solutions Firm, Notes Deputy MD's Resignation
Transrail Lighting Limited announced significant outcomes following its Board meeting held on June 22, 2026. The company approved the acquisition of a specialized industrial cooling solutions entity and noted the resignation of Mr. Raman Rajagopalan, Deputy Managing Director.The acquisition targets Gactel Turnkey Projects Limited, which operates in the Industrial Cooling Solutions and Engineering Services sector. Transrail is acquiring 100% equity stake in Gactel from Ajanma Holdings Private Limited. This move is described as a strategic investment aimed at strengthening the Company's cooling tower engineering and execution capabilities.
The acquisition is focused on concentrating in segments such as Induced Draft Cooling Towers (IDCTs), along with Repairs, Refurbishment, and Maintenance (MRO) of old cooling towers including NDCTs, IDCTs, and chimneys. The company anticipates that the acquisition will enhance its end-to-end EPC capabilities and provide access to specialized engineering expertise in the cooling tower and industrial chimney maintenance businesses.
The transaction involves a cash consideration where Transrail proposes to acquire up to 100% of Gactel's equity share capital for an aggregate consideration not exceeding ₹10 Crore. The acquisition involves 50,00,000 equity shares of the target company. It is expected that the deal will be completed within four months, subject to the execution of the Share Purchase Agreement and customary closing conditions.
The details regarding the acquired entity are summarized below:
| Particulars | Gactel Turnkey Projects Limited |
|---|---|
| Industry | Industrial Cooling Solutions and Engineering Services |
| Incorporation Date | May 17, 1995 |
| Acquired Shares | Up to 100% (50,00,000 equity shares) |
| Acquisition Cost Limit | Not exceeding ₹10 Crore |
Financial performance of Gactel in the last three financial years was reported as follows:
| Financial Year | Revenue (Rs. in '000) |
|---|---|
| FY 2023-24 | 8.04 |
| FY 2024-25 | 69.92 |
| FY 2025-26 | 122378.18 |
In addition to the acquisition, the Board noted the resignation of Mr. Raman Rajagopalan, Deputy Managing Director, who tendered his resignation citing personal commitments towards his parents and the necessity to relocate to Chennai. His services with Transrail Lighting Limited are set to conclude with effect from July 31, 2026.
The acquisition of Gactel Turnkey Projects Limited constitutes a Related Party Transaction, as both Gactel and Transrail are fellow subsidiaries of Ajanma Holdings Private Limited, and the transaction is planned to be conducted at arm's length based on an independent valuation report.
TRANSRAILL Stock Price Movement
Today, Transrail Lighting Limited equity edged higher, closing at ₹517.95 after gaining 1.89%. The stock saw a trading volume of 673,013 shares during the post-market period.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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