Texmaco Rail & Engineering Limited announced a private placement of up to 8,340,000 convertible warrants for gross proceeds of INR 375,000,000 on January 23, 2024. The transaction included participation from returning investor Adventz Finance Private Limited, and new investor Samena Green Ltd. for 4,170,000 warrants each. The warrants will be convertible into one common share and will mature in 18 months from the date of the allotment.

The securities will be issued on preferential basis. The company will receive 25% of the total amount, as upfront payment at the time of allotment of warrants and the remaining 75% will be paid within 18 months. The transaction has been approved by the board of directors of the company.