Titagarh Wagons allots 37.20 lakh equity shares to shareholders of Cimmco on amalgamation

Wagon and metro rake maker Titagarh Wagons Ltd (TWL) on Saturday said it has allotted 37.20 lakh equity shares of Rs 2 each to eligible shareholders of Cimmco on amalgamation of the latter with the company. The allotment has bee made in the share exchange ratio of 13 equity share of Rs 2 each of the company for every 24 equity share of Rs 10 each held in Cimmco, as per the scheme of amalgamation.

"Allotment of 37,20,469 equity shares of Rs 2 each of the company has been made on November 7, 2020, to the eligible members of Cimmco as on October 23, 2020 (record date) in the share exchange ratio of 13 equity share of Rs 2 each of the company for every 24 equity share of Rs 10 each held in Cimmco," TWL said in a regulatory filing to the BSE. With this allotment, the paid-up equity share capital of the company has been increased to Rs 23.86 crore, it said.

Post the allotment, the company said that the shareholding of the promoters has changed from 45.70 per cent to 44.29 per cent of the total paid-up share capital of the company.