Signs MOU with KTK Group Co. Ltd of China for joint tendering of Platform Screen Door projects in India

Airfloa Rail Technology has signed an MOU with KTK Group Co. Ltd, a company incorporated under the laws of China, for joint tendering of Platform Screen Door (PSD) projects in India.

Sat 10 Oct 2026

Counterparty

KTK Group Co. Ltd, a company incorporated under the laws of China

Purpose

joint tendering of Platform Screen Door (PSD) projects in India

Equity Acquisition Requirement

no equity acquisition required

What was announced

• Airfloa Rail Technology Limited has signed an MOU with KTK Group Co. Ltd, a company incorporated under the laws of China, having its India office at Coimbatore, Tamil Nadu - 641654.
• The purpose is identifying, evaluating, bidding for, securing and executing eligible Platform Screen Door (PSD) projects in India.
• The company proposes to participate in the joint bidding process in association with KTK, through such tender-specific joint venture, consortium, association or other structure as may be permitted or required by the relevant tender documents.

Nature of the arrangement

• The MOU does not, by itself, require either party to acquire equity in the other.
• Unless separately agreed in writing or mandated by the tender, the cooperation shall be project-specific and shall not create any agency, employment relationship or permanent establishment beyond what is expressly created under the tender-specific documents.
• KTK Group Co. Ltd is an unrelated entity, and the promoter, promoter group and group companies have no interest in it. The transaction is not a related party transaction.

Size, terms and timeline

• The consideration is dependable on the value of each tender, which the update states is unpredictable in advance.
• The MOU sets the broad understanding between the parties and timelines for key activities envisaged as part of carrying out the proposed transaction.
• The transaction process and proposed timelines will be dependable upon each and every separate project.
• Before submission of any bid, the parties shall jointly confirm in writing that the specific conditions specified under the relevant clause of the MOU have been completed, or are lawfully capable of being completed, within the tender timetable.

Expected benefits as stated

• The proposed joint tender participation is expected to enable the company to expand its business operations and capabilities in the railway and transportation equipment sector using foreign technology.

How a retail investor can read this

• An MOU of this kind sets out intent and a working framework for bidding together on tenders. It is not itself an order, an award or a confirmed project.
• The arrangement is project-specific, so any actual business would come from individual tenders that the parties jointly bid for and win.
• Before any bid is submitted, the two parties must confirm in writing that the conditions set out in the MOU are completed or capable of being completed within the tender timetable.

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