Texmaco Rail & Engineering acquires Equity Shares of Kalindee Rail Nirman (Engineers) Limited

Texmaco Rail & Engineering Ltd has now announced with reference to the cquisition of 41,10,400 (forty one lac ten thousand four hundred) Equity Shares of a face value of Rs. 10 (Rupees ten) each of Kalindee Rail Nirman (Engineers) Limited ("Kalindee") at a price of Rs. 65.13 per Equity Share.
Texmaco Rail & Engineering Limited ("Company") has received an intimation of allotment of Equity Shares from Kalindee on August 22, 2013 pursuant to the board resolution passed by Kalindee on August 21, 2013 approving the issuance and allotment of 41,10,400 (forty one lac ten thousand four hundred) Equity Shares by Kalindee at a price of Rs. 65.13 per Equity Share to the Company. As intimated earlier, post such issuance and allotment, the Company shall hold 24.9% of the total paid-up Equity Share Capital of Kalindee.

Shares of Texmaco Rail & Engineering Limited was last trading in BSE at Rs.30, down by Rs.0.10 or 0.33%. The stock hit an intraday high of Rs.31.30 and low of Rs.30.

The total traded quantity was 1614 compared to 2 week average of 4336.

Shares of Kalindee Rail Nirman (Engineers) Limited was last trading in BSE at Rs.66.45, up by Rs.0.90 or 1.37%. The stock hit an intraday high of Rs.67 and low of Rs.61.05.

The total traded quantity was 0.63 lakhs compared to 2 week average of 0.19 lakhs.

Source : Equity Bulls

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