Rail Vikas Nigam Limited (RVNL) has established its solely-owned Subsidiary Company named ‘Kinet Railway Solutions Limited’. According to the Share Purchase Agreement signed, RVNL holds a 25 per cent stake, while Joint Stock Company Metrowagonmash and Joint Stock Company Locomotive Electronic Systems possess 70 per cent and 5 per cent stakes, respectively.
This move aims to enhance rail infrastructure and services, as well as foster innovation and collaboration within the rail industry. Further details, in compliance with SEBI’s regulations, will be provided after signing the shareholders agreement. The share price of Rail Vikas Nigam Ltd. went up by 0.28 per cent to ₹119.90 at 2.01 p.m. on BSE.