Texmaco Rail & Engineering announced that Belur Engineering (Belur Engg) has ceased to be a wholly owned subsidiary of the Company w.e.f. 8 June 2024, pursuant to allotment of 96,078 equity shares of Rs. 10 each by Belur Engg to NYMWAG CS, a.s. (NYMWAG) as per the joint venture agreement entered into between the Company and NYMWAG.
Pursuant to the joint venture agreement, the company's shareholding in Belur Engg has diluted to 51%. Belur Engg has ceased to be a wholly owned subsidiary of the company w.e.f. 8th June, 2024.
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