Texmaco Rail's Subsidiary Secures ₹200 Cr Investment

Texmaco Rail & Engineering Ltd. has executed a Share Subscription & Shareholder's Agreement (SSSA) with its subsidiary, Texmaco Defence Technologies Ltd (TDTL), and Vagus Def Tech & Aerospace Fund-1 ('Calculus'). Calculus will invest up to ₹200 Crores in TDTL. The initial ₹100 Crores will be a fresh equity issuance, with the remaining ₹100 Crores through equity or debt instruments. Upon completion, Calculus will hold 30% of TDTL, making it a subsidiary and no longer wholly-owned by Texmaco Rail. The transaction is expected to be completed within 90 days.