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Titagarh Wagons Ltd has subscribed to the preferential allotment of equity shares made by Titagarh Marine Ltd. As a result, Titagarh Marine has become 98.90 per cent subsidiary of the company. Titagarh Marine's main objectives are to carry on shipbuilding /marine business.
Further, Titagarh Marine has entered into necessary agreements to acquire 100 per cent stake each in two companies which are already engaged in shipbuilding and marine business.
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