Texmaco Rail & Engineering rights issue oversubscribed 1.35 times

Texmaco Rail and Engineering Ltd has said its rights issue for an amount of up to Rs 164.51 crore was oversubscribed by about 1.35 times.

The Kolkata-headquartered company, in an exchange filing, said the rights issue closed for subscription at 5 pm on Thursday.

In October, Texmaco Rail and Engineering had said its Capital Issue Committee approved issuing over 7.15 crore equity shares worth up to Rs 164.51 crore.

The rights entitlement ratio was fixed at 2:7 – two equity shares for every seven equity shares held by shareholders, the company said.