Jupiter Wagons (JWL) lists on Bourses!
Completes NCLT approved reverse merger with CEBBCO
Shares of JWL to commence trading on BSE and NSE
on 30th June 2022
Jupiter Wagons Ltd. (JWL), a leading company providing complete mobility solutions, who had announced the reverse merger with CEBBCO (Commercial Engineers & Body Builders Company Ltd.), through the acquisition the company today completed its listing on the bourses. Erstwhile CEBBCO a prominent manufacturer of tipplers, trailers, and specialized defense vehicles in the country was acquired by JWL in a buyout (of its organization). The equity shares of the company has commenced trading on the BSE and the NSE under the new ticker symbol ‘JWL. The business will have 38,74,47,419 shares at the exchange under the provisions of the amended merger agreement.
The consolidation will result in significant synergies between business operations, allowing for more efficient cash management and unrestricted access to cash flow to be deployed more efficiently to fund growth opportunities, thereby improving stakeholders' value. It will produce long-term benefits that will boost shareholder value. Additionally, the combined business's improved net worth and backward integration of the operation, including lower cost of capital, cost savings due to focused operational efforts, rationalization, standardization, simplification of business processes, productivity gains, procurement efficiencies, and distribution logistics. The group revenue of JWL currently stands at Rs. 1,178.35 crores. Jupiter Group has signed up MOU with CAF, Spain for the manufacturing and supply of Metro coaches and similar Urban Rapid Mass Transit Systems along with Main Line High Speed Trains through a Joint Venture Company in India
Vivek Lohia, Managing Director, Jupiter Wagons Ltd.
said, “As a result of the merger, JWL will be able to use its financial
strength to undertake a growth phase that will include upgrading
operations to meet current industry demand, expanding into new product
development, and market sector consolidation. It will also contribute to
the formation of a powerful organization with more capital and assets.
We believe that the merger signifies a transformative event for Jupiter
Wagons Group allowing us to reach the next level of growth
while also improving our technology and providing the greatest mobility
solutions in the country. As a result of this reverse merger, we are
foreseeing many milestone achievements in the future.”
recently entered the electric mobility market with the launch of
‘Jupiter Electric Mobility’ (JEM) focusing on commercial EV vehicles.
The company has formed a joint venture with EA GreenPower Private
Limited a wholly-owned subsidiary of GreenPower Motor Company
Inc.(“GreenPower”). With the JV with GreenPower, JWL seeks to align the
technology assets of both the organizations by generating safety and
sustainability in the EV market.