Airfloa Rail Technology Limited has entered into a Memorandum of Understanding (MoU) with KIN Railway Equipment Private Limited to evaluate the proposed acquisition of KIN’s business for approximately ₹48 crore. The proposed transaction may be structured as a slump sale or asset purchase and remains subject to satisfactory due diligence, regulatory approvals and the execution of definitive agreements. Airfloa plans to fund the transaction through a combination of debt and internal accruals.
KIN’s business carries an order book of approximately ₹180 crore, which would provide Airfloa with additional revenue visibility if the proposed acquisition is completed. Based in Coimbatore, KIN Railway Equipment has capabilities across metro rail, rolling stock, coach interiors and railway equipment. The proposed acquisition would include access to manufacturing infrastructure, technical qualifications, certifications, inventory and customer relationships.
Airfloa said the proposed transaction would strengthen its position in the metro interiors and coach manufacturing segments while expanding its reach across domestic and export markets. The additional manufacturing infrastructure and technical capabilities are also expected to support the company’s participation in larger and more complex railway and metro projects.
The proposed acquisition is aligned with Airfloa’s strategy to build a scaled and diversified rail and mobility manufacturing platform with a broader presence across the transportation value chain. The ₹180 crore order book associated with the KIN business would provide a base of ongoing projects and customer commitments. Airfloa expects the combination of KIN’s manufacturing capabilities and its own engineering and project execution experience to strengthen its ability to address opportunities in railway and metro infrastructure.
Airfloa Rail Technology manufactures rolling stock components for Indian Railways and serves major railway production facilities, including the Integral Coach Factory and other coach manufacturing units. The company also undertakes turnkey interior furnishing projects for Indian Railways.
Its operations extend to aerospace and defence, where it supplies high-precision components. Airfloa has more than 27 years of operating experience and operates two manufacturing facilities across two core business verticals. The company has executed nine turnkey rail projects, including Sri Lankan DEMU and Mainline Export Coaches, Agra-Kanpur Metro, Regional Rapid Transit System (RRTS), Vistadome and Vande Bharat Express projects. It also supplies products to global rail OEMs and multiple divisions of Indian Railways.
Airfloa has in-house capabilities covering engineering, design, tooling, finishing, material development and assembly. These capabilities enable the company to undertake projects across different stages of the manufacturing and execution process. The proposed acquisition of KIN is expected to add manufacturing capacity and technical capabilities while strengthening Airfloa’s presence in metro interiors and coach manufacturing. Completion of the transaction will depend on the outcome of due diligence, receipt of necessary approvals and the signing of definitive transaction documents. Airfloa will provide further updates as the proposed acquisition progresses.
Airfloa Rail Technology Limited is a leading manufacturer of rolling stock components and turnkey interior solutions for Indian Railways, with over 27 years of industry experience. The Company also supplies precision-engineered components to the aerospace and defence sectors. With two manufacturing facilities, integrated engineering and design capabilities, and a strong execution track record, Airfloa has successfully delivered marquee rail projects including Vande Bharat Express, Agra–Kanpur Metro, RRTS, Vistadome Coaches, Sri Lankan DEMU and Mainline Export Coaches, while serving global rail OEMs and multiple divisions of Indian Railways.
