Texmaco Rail & Engineering Limited announced a Institutional private placement of 3,378,375 common shares at an issue price of INR 145 per share for the gross proceeds of INR 489,864,375 on September 15, 2023. The transaction will include participation from new investor Adventz Finance Private Limited for 2,702,700 shares and individual investor Saroj Kumar Poddar for 675,675 shares. The transaction has been subject to approval from the shareholders of the company and regulatory/statutory approvals.

The Company shall make an application to the Stock Exchanges where the existing shares are listed, for listing of the aforementioned Equity Shares.