Texmaco Rail & Engineering Limited announced a significant change in its subsidiary, Panihati Engineering Udyog Private Limited. The Board of Directors has approved an additional equity investment of ₹3.15 Lakhs (31,500 equity shares of ₹10 each) by new investors in Panihati Engineering Udyog Private Limited. As a consequence of this transaction, Panihati Engineering Udyog Private Limited will cease to be a subsidiary of Texmaco Rail & Engineering Limited from the date of acquisition of equity shares by the new investors. The transaction is expected to be completed within one month. The annexure details the subscribers to the new equity issue: Saroj Kumar Poddar subscribed to 16,500 shares amounting to ₹1,65,000, and Jyotsna Poddar subscribed to 15,000 shares amounting to ₹1,50,000. The net worth contributed by the subsidiary to Texmaco Rail was ₹0.01 Crores. The company clarified that this is not a related party transaction for Texmaco Rail as it is not a party to the transaction, and for the subsidiary, it is not a related party transaction.