Texmaco JV Allots Shares and CCDs to New Partner TrinityRail

Texmaco Rail & Engineering Ltd announced that its joint venture company, Touax Texmaco Railcar Leasing Private Limited, has issued 3,16,70,588 Equity Shares and 76,993 Compulsorily Convertible Debentures (CCDs) to TrinityRail Global Inc., the new joint venture partner. Following this issuance, the shareholding structure of the JV has been revised: Touax Rail India Limited holds 34% (plus 1 Equity Share), Texmaco Rail & Engineering Limited holds 34% (minus 1 Equity Share), and TrinityRail Global Inc. holds 32%. The JV company, an associate of Texmaco Rail & Engineering, had a total income of ₹99.56 Crores and a net worth of ₹258.35 Crores in the last financial year, though these are not line-by-line consolidated figures.