Jupiter Wagons Limited (NSEI:JWL) entered into letter of intent to acquire Stone India Limited for approximately INR 210 million on October 14, 2022. The transaction is unanimously approved by Committee of Creditors and is subject to approval by National Company Law Tribunal. As of 8 June, 2023, the transaction is approved by National Company Law Tribunal.

The transaction is expected to complete in 12 months.