Cimmco will merge with its parent company Titagarh Wagons (TWL). Two more group companies involved in the scheme of arrangement are Titagarh Capital, a wholly-owned subsidiary of TWL, and Titagarh Enterprises.
The amalgamation will let TWL promoters raise its stake in the two companies from 45.7 percent to 50.9 percent. TWL will allot 13 shares of Rs 2 each for every 24 Cimmco shares.
Cimmco is engaged in the business of wool and blended fabrics, ready-to-wear garments, plastic co-extruded films, sheets and BOPP films, thermosetting resins, heavy engineering, railway wagons, manufacture of complete plants for cement, chemicals and other industries, high precision defense stores, microwave components and telecom testing equipment, granite and marble and international trading and export house.
Company Name | CMP |
---|---|
Titagarh Railsystems | 1042.40 |
Texmaco Rail & Eng. | 187.00 |
Jupiter Wagons | 411.15 |
Jessop & Co | |
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