AIRFLOA: SIGNS MOU FOR ACQUISITION WORTH RS 48 CR

• Memorandum of Understanding signed with KIN Railway Equipment Private Limited for acquisition of its business • Transaction to be undertaken as a slump sale or asset purchase, subject to due diligence and approvals • Deal value at ~₹48 Cr (Rs. 48 Crores), exclusive of taxes • Acquisition, if consummated, is expected to expand company's operations and capabilities in the railway and transportation equipment sector • KIN Railway Equipment Private Limited is an unrelated entity

Airfloa Rail Technology Ltd

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