Texmaco Rail & Engineering Ltd updates on QIP

In respect of issue of Equity Shares to Qualified Institutional Buyers pursuant to the QIP, the Committee of the Directors of Texmaco Rail & Engineering Ltd has, as its meeting held on November 18, 2014, pursuant to the board and shareholder resolutions dated July 21, 2014 and September 04, 2014, respectively, passed the resolutions in connection with the issue.

The Board authorised the opening of the Issue from November 18, 2014 and approved & adopted the preliminary placement document dated November 18, 2014.

The relevant date for the purpose of this Issue in terms of Regulation 81 (c) (i) of the SEBI ICDR Regulations is November 18, 2014 and accordingly the floor price in respect of the aforesaid Issue, based on the pricing formula as prescribed in under Regulation 85 (1) of the SEBI ICDR Regulations is Rs. 106.80 per Equity Share (the "Floor Price").

Shares of TEXMACO RAIL & ENGINEERING LTD. was last trading in BSE at Rs.115.15 as compared to the previous close of Rs. 112.95. The total number of shares traded during the day was 311918 in over 5189 trades.

The stock hit an intraday high of Rs. 116.6 and intraday low of 113.3. The net turnover during the day was Rs. 35865641.

Source : Equity Bulls

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