Texmaco Rail Invests ₹6.88 Cr in Subsidiary TDTL

Texmaco Rail & Engineering Ltd has invested ₹6.88 crore in its subsidiary, Texmaco Defence Technologies Ltd (TDTL), by subscribing to 6,88,000 equity shares at a premium. Concurrently, a new investor, VAGUS DEF TECH & AEROSPACE FUND-1, has acquired a 30% stake in TDTL at the same valuation. This transaction changes TDTL's status from a wholly-owned subsidiary to a subsidiary. The investment aims to expand the company's footprint in the Defence industry. TDTL, incorporated in February 2020, focuses on Defence & Allied Activities, with minimal reported income in the last fiscal year.