Texmaco Rail & Engineering Limited — Others, 14-05-2025: Monitoring Agency Report

Texmaco Rail and Engineering has announced a board meeting to consider the financial results for the quarter and half-year. CARE Ratings confirms full compliance in using proceeds from the Rs. 750 Cr Qualified Institutional Placement and Rs. 150 Cr Preferential Issue, though capital expenditure deployment under QIP experienced delays. QIP funds were allocated mainly to debt repayment (Rs. 251.20 Cr), working capital (Rs. 250 Cr), and capital expenditure (Rs. 10.98 Cr). Preferential issue funds are partly used for capacity expansion with the remainder invested in mutual funds. Potential share price risks linked to warrant exercise prices may impact the full realization of preferential issue proceeds.