Texmaco Rail & Engineering on Monday said that the company has closed a fundraise of Rs 750 crore through the qualified institutional placement of equity shares.
“The QIP transaction of the company was oversubscribed by more than two times and has witnessed a very strong response from established high-profile foreign investors and top domestic institutional investors and funds,” the company said in a statement.
In a stock exchange filing on Friday, Texmaco had said that the Societe Generale, Abu Dhabi Investment Authority, and Bofa Securities Europe SA were among the allottees who had subscribed to more than 5 per cent of the equity shares offered in QIP.
The company has issued 5.80 crore equity shares of face value of Rs 1 each for Rs 129.11 per share. Following the allotment of equity shares in the issue, the paid-up equity share capital of the company has increased from Rs 32.52 crore to Rs 38.33 crore, the company said in the exchange filing.
Nuvama Wealth Management, ICICI Securities and Motilal Oswal Investment Advisors were book-running lead managers for QIP.
In April the company, part of Adventz group, had announced a joint venture with Nymwag, a Czech Republic-based company under AZC group to set up a new company in Calcutta with a manufacturing unit in Sodepur focussed on freight car manufacturing and production of components related to freight cars and railway wagons.