Texmaco Rail & Engineering has received Letter of Acceptance (LoA) from Ministry of Railways (Railway Board). The order is for manufacture and supply of 3,400 BOXNS wagons valuing around Rs 1374.41 crore. Earlier, the company had received approval from board of directors for raising of funds up to Rs 1,000 crore by way of issuance of Equity Shares through qualified institutions placement (QIP).
Texmaco Rail & Engineering operates in two business segments: heavy engineering division and steel foundry division. It manufactures a diverse range of products, such as railway freight cars, and hydro-mechanical equipment.