Texmaco Rail & Engineering Limited acquires 51% in Saira Asia Interiors Pvt Ltd

Texmaco Rail & Engineering Limited has entered into Shareholders' Agreement & Share Purchase Agreement ('Agreements') with "Saira Asia Interiors Private Limited" ('Saira Asia') & its existing Shareholders on 4th June, 2024 and subsequent to acquisition of shares under such Agreements, Saira Asia will be a subsidiary of the Company with 51% Shareholding.

Saira Asia excels in crafting cutting-edge metro interiors, elevating public transportation standards with precision engineering and innovative design. Saira Asia is rapidly expanding their presence in metro interior products.

The acquisition will make the Company a comprehensive mechanical partner in Commuter Mobility Segment (Car body shell and interiors) and will provide competitive edge by offering comprehensive solutions that address the evolving demands of the Railway sector.

Shares of Texmaco Rail & Engineering Limited was last trading in BSE at Rs. 174.10 as compared to the previous close of Rs. 171.80. The total number of shares traded during the day was 220005 in over 5496 trades.

The stock hit an intraday high of Rs. 178.15 and intraday low of 160.15. The net turnover during the day was Rs. 37569373.00.

Source : Equity Bulls

Keywords

TexmacoRailandEngineering INE621L01012 Acquisition SairaAsiaInteriors