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BOARD OF TEXMACO RAIL & ENGINEERING WITHDRAWS PROPOSAL FOR RIGHTS ISSUE

Published on Sep 09, 2020 09:56

The Board of Texmaco Rail & Engineering at its meeting held on 08 September 2020 has withdrawn the proposal for rights issue in view of factors completely beyond the Company`s control, i.e., the changes in the ground realities due to plummeting GDP and economy as a result of the slowdown in the world-wide economy further aggravated lately due to onset of COVID-19 pandemic resulting in the prevailing market price of the Company`s Equity Shares falling much below the proposed Rights Issue price.

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