Joint Venture31 Dec 2025, 07:12 pm
Titagarh Rail Systems Ltd. Approves Business Transfer Agreement with Wholly Owned Subsidiary
AI Summary
Titagarh Rail Systems Ltd. has approved the execution of a Business Transfer Agreement (BTA) with its wholly owned subsidiary, Titagarh Naval Systems Limited, for the transfer of its Shipbuilding and Maritime Systems (SMS) Business. The SMS Business contributed approximately 3.35% of the Company's total revenue in the financial year 2024-25. The consideration for the transfer is Rs. 114.88 Crore, to be discharged by the issuance and allotment of securities at par to the Company by TNSL.
Key Highlights
- Transfer of SMS Business to Titagarh Naval Systems Limited
- Consideration for the transfer is Rs. 114.88 Crore
- Transfer to be done by way of Business Transfer Agreement (BTA)
- TNSL to discharge the consideration by way of issuance and allotment of securities at par to the Company