Texmaco Rail & Engineering Ltd board allots shares on rights basis

Pursuant to the finalisation of the basis of allotment of the rights issue in consultation with the Lead Managers / Registrar to the Issue / Designated Stock Exchange i.e. BSE Limited, the Capital Issue Committee, at its Meeting held today has, considered and approved the allotment of 7,15,26,643 Equity Shares at a price of Rs. 23 per Equity Share (including a premium of Rs. 22 per Equity Share) ("Allotment").

The board had earlier approved the offer and issue of equity shares of the Company ("Equity Shares") by way of a rights issue to eligible equity shareholders of the Company as on the record date ("Rights Equity Share") at a price of Rs. 23 per Rights Equity Share (including a premium of Rs. 22 per Righis Equity Share) to the eligible equity shareholders of the Company for an amount aggregating up to Rs. 164,51,12,789 in the ratio of 2 (Two) Rights Equity Shares for every 7 (Seven) Equity Shares held by the Eligible Equity Shareholders of the Company ("Issue") on the record date i.e. 22nd October, 202l. The rights issue opened for subscription on 1st November, 202l and closed on 25th November, 202l.

Consequent to the above-mentioned allotment, the paid up capital of the Company has increased from 25,03,43,252 Equity Shares of Re. 1/- each to 32,18,69,895 Equity Shares of Re. 1/- each.

Shares of Texmaco Rail & Engineering Limited was last trading in BSE at Rs. 28.20 as compared to the previous close of Rs. 28.60. The total number of shares traded during the day was 20056 in over 231 trades.

The stock hit an intraday high of Rs. 28.90 and intraday low of 28.05. The net turnover during the day was Rs. 570491.00.

Source : Equity Bulls

Keywords

TexmacoRailandEngineeringLimited INE621L01012 TEXRAIL RightsShares Allotment