Texmaco Rail & Engineering Limited board approves rights issue to raise Rs. 175 crore

The Board of Directors of Texmaco Rail & Engineering Limited at its Meeting held today, has considered and approved raising of funds by issuance and allotment of equity shares of the Company for an aggregate amount of up to Rs. 175 crore (Rupees One Hundred Seventy Five Crore) by way of rights issue to the existing shareholders of the Company.

The rights issue shall be undertaken on such terms including but not limited to setting the record date, rights entitlement ratio, appointment of intermediaries and other related matters (to be decided by the Board or the capital Issue committee, at a later date) in accordance with applicable law(s), including the Companies Act, 20l3 and rules framed thereunder and the Securities and Exchange Board of India (Issue of capital and Disclosure Requirements) Regulations 2018, as amended from time to time.

Shares of TEXMACO RAIL & ENGINEERING LTD. was last trading in BSE at Rs.29.9 as compared to the previous close of Rs. 28.65. The total number of shares traded during the day was 339321 in over 1462 trades.

The stock hit an intraday high of Rs. 31.3 and intraday low of 28.25. The net turnover during the day was Rs. 10111327.

Source : Equity Bulls

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