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Texmaco Rail & Engineering Ltd plans to issue equity shares amounting to ₹115 crore on a preferential basis to the promoters.
The company’s board has approved the issuance of shares on preferential basis at a meeting on Monday. An extraordinary general meeting of shareholders would be held through video conferencing mode on March 25 to seek their approval for the proposed issue, the company said in a notification to the BSE on Monday.
“For the purpose of giving effect to the above proposed issuance of securities, the Board has authorised its capital issue committee, which was formed earlier to decide the structure, terms and conditions thereof and all other matters related thereto,” it said.
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