Bonatrans India lands €28M from Lucchini RS and Simest for railwheel expansion

Jupiter Tatravagonka Railwheel Factory Private Limited (JTRWF) — the Jupiter Wagons subsidiary known on Dealroom as Bonatrans IndiaDealroom has a profile for this one. Try Dealroom → — has signed binding agreements with Italian partners Lucchini RS HoldingDealroom has a profile for this one. Try Dealroom → and SimestDealroom has a profile for this one. Try Dealroom → for a combined 25% equity stake worth €28 million, implying a post-money valuation of roughly €112 million.

Under the agreements, Lucchini RS — a specialist in railwheel technology, engineering and metallurgy — takes 15% of JTRWF, while Simest, an Italian state-backed financial institution, takes the remaining 10%. The deal is structured under Italy's Sistema Italia framework, coordinated by the Ministry of Foreign Affairs to support Italian companies expanding overseas, with state lender CDP providing financial and advisory support.

The partnership aims to build India's first fully integrated private-sector railwheel manufacturing platform, combining JTRWF's existing facility in Chhatrapati Sambhajinagar with a new greenfield complex under development in Odisha. Jupiter Wagons remains the majority shareholder and continues to serve as JTRWF's holding company.