Concord to increase stake in Progota India to 46.5%
Concord Control Systems Limited announced on October 11, 2025, that its Board of Directors approved a further investment to acquire up to 46.50% equity shares in Progota India Private Limited. This acquisition will increase Concord's holding from the current 26% to 46.50% in Progota, which is developing Kavach 4.0, India's next-generation automatic train protection (ATP) and railway-safety platform. The transaction is expected to be completed within six months.
Progota India Private Limited, incorporated on October 18, 2021, focuses on automation, signalling, and train-protection solutions for Indian Railways. Its financial overview indicates a turnover of INR 14.94 lacs for FY 2023-24 and INR 8.68 lacs for FY 2022-23, with FY 2024-25 showing NIL turnover as it is in a development phase.
This strategic acquisition aims to combine Concord's manufacturing and system-integration strengths with Progota's R&D capabilities, enhancing Concord's intellectual-property base and driving long-term value creation in India's rail-safety and control-systems market. Progota India Private Limited is not a related party transaction.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
Primary Source Document
News Alerts
Get instant email alerts when Concord Control Systems publishes news
Free account required • Unsubscribe anytime