Texmaco Rail, Touax and TrinityRail Partner to Expand Railcar Leasing Business in India

Texmaco Rail & Engineering Ltd has signed a tripartite agreement with Touax Group and TrinityRail Global Inc. to expand its railcar leasing business in India, as per news reports.  

The agreement brings TrinityRail into Touax Texmaco Railcar Leasing Private Limited (TTRL), changing the venture from a two-partner structure to a three-member consortium.  

Following the transaction, Touax and Texmaco will each hold about 34% of TTRL, while TrinityRail will own the remaining 32%. 

Share Issue Completes Equity Transaction 

As part of the deal, TTRL will allot 3,16,70,588 equity shares and 76,893 compulsorily convertible debentures (CCDs) to TrinityRail. According to the company's financials for the previous year, TTRL reported total income of ₹99.56 crore and a net worth of ₹258.35 crore. 

The revised ownership structure brings together manufacturing, leasing, and engineering capabilities under a single platform focused on freight wagons and related services. 

Partners Outline Investment Plans 

The three companies have announced plans to finance 100 railway rakes over the next three to five years. Based on current market estimates, the proposed investment is expected to be between ₹2 lakh crore and ₹2.5 lakh crore. Each rake is estimated to cost around ₹2,000 crore. 

The venture will focus on wagon design, manufacturing, leasing, financing, maintenance and lifecycle support for freight operators. 

Technology To Be Contributed Through Existing Facilities 

TrinityRail, which manages a fleet of around 150,000 railcars globally, will contribute engineering expertise, wagon design and maintenance technology to the venture. The company said it does not plan to establish manufacturing facilities in India and will instead work with Texmaco's existing production base. 

The companies also said the platform will develop wagon designs suited to Indian operating conditions while supporting maintenance and lifecycle management requirements. 

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Texmaco Rail & Engineering Share Price Performance  

As of July 29, 2026, 3:30 pm, Texmaco Rail & Engineering Ltd share price was trading at ₹112.28, up 2.34% from the previous closing price. 

Conclusion 

With TrinityRail joining the existing venture, TTRL will operate under a revised ownership structure. The companies plan to combine manufacturing, leasing and engineering capabilities to support freight wagon demand in India. 

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