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Texmaco Rail and Engineering has floated a new subsidiary Texmaco Defence Systems Private Ltd (TDSPL).
The subsidiary will have its registered office in Kolkata and Texmaco Rail and Engineering holds 51 per cent stake in it. TDSPL will look to penetrate “in the field of defence products and equipment” on the core strength of the parent company. It will also look at developing its own manufacturing unit in India. According to a notification to the bourses, TDSPL will have an authorised share capital of ₹50 lakh only. “It is a subsidiary of the company. The Promoter/ Promoter group have no other interest in the entity,” Texmaco Rail said in a regulatory filing.
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