Jupiter Wagons Increases Stake in Electric Mobility Unit

Jupiter Wagons Limited announced on December 31, 2024, that it has increased its stake in its subsidiary, Jupiter Electric Mobility Private Limited (JEMPL), from 60% to 75%. This was accomplished through the issuance of additional equity shares on a preferential basis and the transfer of shares to Jupiter Wagons.

Details of the Acquisition

JEMPL, engaged in designing and manufacturing electric trucks, light commercial vehicles (eLCVs), and energy storage solutions, reported a turnover of ₹32.54 lakh in 2023-24.

The acquisition, completed within 30 days, involved the subscription of 3,340 equity shares at ₹100 per share, totalling ₹3.34 lakh, along with the transfer of 665 equity shares at ₹100 per share for ₹66,500.

As a result, Jupiter Wagons now holds a 75% stake in JEMPL, further consolidating its presence in the electric vehicle sector, particularly in railways and energy storage solutions.

The increased shareholding in JEMPL aligns with Jupiter Wagons’ strategy to expand its footprint in the electric vehicle sector, marking a significant step toward enhancing its capabilities in the growing market for electric mobility and sustainable energy solutions.

On January 1, 2025, Jupiter Wagons share price opened at ₹504.50, touching the day’s high at ₹508.75, as of 9:52 AM on the NSE.

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