Texmaco Rail & Engineering Limited announces completion of fundraise of Rs 750 Crores by the way of QIP which was oversubscribed by more than two times
Kolkata, 27th November 2023: Texmaco Rail & Engineering Limited has closed the fundraise of Rs 750 crores, through a Qualified Institutional Placement (“QIP”) of equity shares. The QIP transaction of the Company was oversubscribed by more than two times and has witnessed a very strong response from established high profile foreign investors, and top domestic institutional investors & funds. Nuvama Wealth Management Limited (Formerly known as Edelweiss Securities Limited), ICICI Securities Limited and Motilal Oswal Investment Advisors Limited were the book-running lead managers for the QIP.
Speaking on the overwhelming response received on the QIP of Texmaco Rail & Engineering Limited, Mr. Indrajit Mookerjee, Vice Chairman and executive Director said, “I extend heartfelt gratitude to each investor who participated in our recently completed QIP. Your overwhelming response, oversubscribing by more than two times, stands as a testament to your unwavering faith in our company’s vision and potential. Your trust empowers us to push boundaries, innovate, and continue our journey toward excellence in the rolling stock & allied industry. Thank You for believing in our capabilities, we are committed to delivering sustainable growth and value. Together, let us pave the tracks for a future of success and mutual prosperity.”
