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The company's board authorized and declared the opening of the issue on Tuesday, 21 November 2023
The floor price of Rs 135.90 is at a discount of 8.7% to the previous day's closing price of Rs 148.85 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue.
Meanwhile, the company informed that meeting of the committee is scheduled to be held on Friday, 24 November 2023 to consider and approve the issue price, including a discount if any thereto, as permitted under the SEBI ICDR Regulations.
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.
The company’s consolidated net profit jumped 59.7% to Rs 24.65 crore in Q2 FY24 as compared with Rs 15.44 crore in Q2 FY23. Net sales increased 66.2% YoY to Rs 805.05 crore in Q2 FY24.
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