The Shares of the TWL are listed on NSE and BSE. The market cap of TWL is around Rs 600 crore.
CIMMCO Limited (CIMMCO) a public limited company incorporated in the year 1943 under the Companies Act, 1913 under the name Texmaco (Gwalior) Limited. Thereafter the name of the company changed several times with the current name changed in the year 2010. The shares of CIMMCO are listed on NSE and BSE. The majority shares of CIMMCO (74.89%) are held by TWL. The market Cap of CIMMCO is around 65 crore.
CIMMCO is mainly into the business of manufacturing of railway wagons and heavy engineering projects / products with manufacturing facility at Bharatpur, Rajasthan.
Titagarh Capital Private Limited (TCPL), a NBFC registered with Reserve Bank of India and a private limited company originally incorporated in the year 1994 with name and style as under Flourish Securities and Finance Private Limited. The name of the company changed to TCPL in the year 2012. TCPL is 100% subsidiary of TWL.
TCPL is engaged in business of leasing of wagons, investments, and other nondepositing accepting non-banking financial activities.
TWL, CIMMCO and TCPL are belong to Titagarh Group. Titagarh group contains various divisions viz Railway, Defence,
Tractor, Heavy Earth Moving and Mining Equipment Division, Bailey Bridge Division.
• CIMMCO Ltd. is very old company which was registered in the year 1943 and was mainly engaged in manufacturing of railway wagons and heavy engineering products with manufacturing facilities located at Bharatpur (Rajasthan). The name of the company was changed to CIMMCO Birla Limited (CBL) in the year 1994. In the year 2000, the company was declared sick by the Board for industrial & Financial Reconstruction (BIFR) and the operations of the CIMMCO was suspended at its manufacturing plant.
• TWL entered into an agreement for acquisition, revival and rehabilitation of the sick Cimmco Birla Ltd (CBL) with BIFR for the consideration of Rs 35 crore.
The board of directors of TWL, CIMMCO and TCPL approved proposal of amalgamation of entire undertaking and business of CIMMCO and TCPL with TWL.
You can read up to 3 premium stories before you subscribe to Magzter GOLD
Log in, if you are already a subscriber
Get unlimited access to thousands of curated premium stories, newspapers and 5,000+ magazines
READ THE ENTIRE ISSUE