Transrail Lighting has further made an investment by way of subscription to the equity share capital of its wholly owned subsidiary in the UAE, namely Transrail Trading LLC (formerly known as Transrail Contracting LLC).
The company has made a further investment of AED 12,500,000 in Transrail Trading LLC, for acquiring 12,500 equity shares of AED 1,000 each. The investment amounts to approximately Rs 31.53 crore. Consequent to the aforesaid investment, Transrail Trading LLC continues to remain a Wholly Owned Subsidiary of the Company.
Transrail Trading LLC will utilise the funds for supporting projects in Africa and the Middle East through investment in plant and machinery and other fixed assets, procurement of materials and services for project execution, meeting working capital requirements, and for general corporate purposes including acquisitions and joint ventures.
Transrail Lighting is one of the leading Indian EPC companies with a primary focus on power transmission and distribution business and integrated manufacturing facilities for lattice structures, conductors, and monopoles.
