Texmaco Rail & Engineering Ltd, the flagship company of the Adventz Group announced that its board of directors has granted the plans to upraise about 50 crore via a preferential issue of convertible warrants to its promoters & the promoter groups.

In a regulatory filing the company stated, “We would like to inform you that the Board of Directors at its Meeting held today i.e. 27th February 2024 has inter-alia, approved the raising of funds by way of issuance of Convertible Warrants by way of preferential issue to promoters  & promoter group & others, for an amount not exceeding 150 crore,”

Further the company added, ‘For the purpose of giving effect to the above proposed issuance of securities the Board has authorised its Capital Issue Committee, which was formed earlier by the company to decide the structure, terms and conditions thereof and all other matters related thereto”.

The Board granted the Capital Issues Committee to make a decision on the structure, overall terms & conditions of the issue including other connected matters.

A crucial point in Texmaco Rail’s financial strategy is the move to raise funds by way of a preferential convertible warrants issue. The consequences for the company’s capital structure, rail infrastructure, stakeholder composition and industry position will be significant as it embarks on this journey.

This strategic decision not only emphasises the company’s focus on augmentation and financial health, but also sets a standard mark for ground-breaking financing of infrastructure projects.

Read More News :

Gravolite Partners with JSG Womens Yuva Kabaddi League 2024

India emerges as a Global Leader with Sun Rising Startups, says Piyush Goyal