Texmaco Rail and Engineering, Saroj Poddar-led company is likely to take control of Kalindee Rail Nirman (Engineers) by October after the open offer closes by September-end. Currently, it has over a 36.6% stakes in the company and aims hike stake beyond 51%. The company has already bagged its shareholders approval to issue 24.9% fresh equity on a preferential basis to Texmaco.
Texmaco Rail & Engineering is one of India`s leading freight car manufacturers and diversified engineering company. The company is the largest supplier of wagons to the Indian Railways in India with strong in-house capabilities for the design and manufacture of special purpose wagons.
