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The board of Texmaco Rail & Engineering will meet on Monday, 17 July 2023, to consider proposals for raising funds by way of issue of one or more instruments including equity shares or convertible securities.
The funds could be raised "either by way of Preferential Issue/ Rights Issue / Qualified Institutions Placement / or a combination thereof or through any other mode stipulated under the applicable laws thereof and subject to such approvals as may be required," the company said in a statement.
Texmaco Rail & Engineering is a diversified heavy engineering company, with products including railway freight wagons, hydro-mechanical equipment and industrial structures for infrastructure industry, locomotive components and locomotive shells, railway bridges, steel castings, and pressure vessels, etc.
On a consolidated basis, the company's net profit surged 236.33% to Rs 18.33 crore on 87% increase in net sales to Rs 835.27 crore in Q4 March 2023 over Q4 March 2022.
Shares of Texmaco Rail fell 0.47% to Rs 80.58 on Wednesday, 12 July 2023.
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