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Titagarh Wagons announced that the Board of Directors of the Company at its meeting held on 22 August 2016 has allotted 27,500 equity shares under TWL Employee Stock Option Scheme 2014. With this allotment, the paid up share capital of the Company has increased to 11,54,11,870 equity shares of Rs 2 each.
The Board approved the reclassification of Saket Kandoi from the Promoter Category to Public Category in the share holding pattern of the Company subject to approval of the shareholders of the Company.
Further, with the acquisition of 11,27,700 shares of Rs 10 each from the shareholders of Titagarh Agrico, the Company has become the wholly owned subsidiary of Titagarh Wagons with effect from 22 August 2016.
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