Sale27 March 2026 at 03:51 pm
Titagarh Rail Systems Ltd. to Sell Entire Shareholding in Dormant Subsidiary Titagarh Singapore Pte. Ltd.
AI Summary
Titagarh Rail Systems Ltd. (TRSL) announced that its Board of Directors has approved the sale of its 100% shareholding in Titagarh Singapore Pte. Ltd. (TSPL), a dormant subsidiary, to Worldvmc Singapore Pte. Ltd. (WSPL). The sale is expected to be completed by 30th June 2026, subject to necessary statutory approvals. TSPL was incorporated with the objective of expanding TRSL's business in overseas markets, but it has remained dormant and does not form part of the Company’s current strategic vision. Upon completion of the transaction, TSPL will cease to be a subsidiary of TRSL.
Key Highlights
- TRSL to sell its entire shareholding in TSPL to WSPL.
- TSPL is a dormant subsidiary and does not form part of TRSL's current strategic vision.
- The sale is expected to be completed by 30th June 2026, subject to necessary statutory approvals.
- Upon completion, TSPL will cease to be a subsidiary of TRSL.
- The sale is a related party transaction, with Shri Vishnu Bhalotia being a director in both TSPL and WSPL.
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