Texmaco Rail & Engineering Limited — Others, 16-05-2025: Monitoring Agency Report

Texmaco Rail & Engineering has announced a board meeting to review CARE Ratings’ Monitoring Agency Reports on its Rs. 750 Cr Qualified Institutional Placement (QIP) and Rs. 150 Cr Preferential issue. The company has utilized Rs. 679 Cr of the QIP proceeds primarily for debt repayment, working capital, capex, and corporate needs. From the Preferential issue, Rs. 4.34 Cr has been spent on capacity expansion at Paradip and Kolkata/Howrah. Remaining funds are parked in liquid mutual funds. Capital expenditure from QIP experienced some timing delays but is actively ongoing.