The share of this wagon manufacturer gained up to 4.4 percent after the company’s board of directors approved fundraising through Qualified institutions placement.
With a market capitalization of Rs 4,927.51 crores, Texmaco Rail & Engineering Ltd, On Wednesday, the company shares were trading at Rs 150.70, an increase of 1.24 percent from the previous close price.
According to the company filing, Texmaco Rail & Engineering Ltd’s board of directors approved fundraising through the Qualified institution’s placement of equity shares of face value of Rs 1 and floor price for the issue, being Rs.135.90 per Equity Share.
To raise Rs 750 crore at a floor price of Rs 135.90 per share, Texmaco Rail & Engineering Ltd launched its Qualified Institutional Placement (QIP) in accordance with the money control. A green shoe option worth Rs 200 crore is also included in the matter.
Examining the business’s financials, the company’s revenue increased 66 percent from Rs. 484 crores in FY 2021-22 to Rs 805 crores in FY 2022-23. During the same period, Net Profit increased by 57 percent from Rs 14 crores to Rs 22 crores.
Texmaco Rail & Engineering Ltd’s reported return ratios in the recent financial year with a return on equity (ROE) of 0.86 percent and a return on capital employed (ROCE) of 6.24 percent.
Texmaco Rail & Engineering Ltd’s recent shareholding pattern, The Promoters of the company own 58.7 percent while Retail shareholders own a 32.86 percent stake in the company and Foreign Institutional Investors own a 2.3 percent stake.
Texmaco Rail & Engineering Ltd. is a division of the Adventz Group. Its activities include rolling stock manufacturing, hydro-mechanical equipment, steel casting production, and the building of rail EPC, bridges, and other steel structures.
Written by:- Abhishek Singh
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