Zuari Industries has received approval to purchase equity shares of Texmaco Rail and Engineering for maximum upto Rs 200 crore in one or more tranches from the Zuari International (ZIntl), a Wholly Owned Subsidiary of the Company.
The present transaction is purchase of equity shares from wholly-owned subsidiary. Currently, the Company along with the ZIntl is holding 16.15% equity shares in Texmaco and post completion of purchase of equity shares, the Company alongwith ZIntl shall continue to hold 16.15% equity shares of Texmaco. The direct holding of the Company shall increase after the purchase of shares.
The Board of Directors of the Company in its meeting held on May 21, 2024, have, inter alia, considered and approved the same.
Zuari Industries (Formerly Zuari Global) has been the Group holding company for the Adventz Group of Companies, with forays into fertilizer, heavy engineering, infrastructure, lifestyle and services.
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