Saroj Poddar-promoted Texmaco Rail & Engineering fell short of acquiring a majority stake in Kalindee Rail Nirman, as it has received about 20.51 lakh shares from the public shareholders of the latter under an open offer made for acquisition of up to 49.52 lakh shares. Poddar said he may hike stake in Kalindee over the next one year to get the majority stake.
After completion of the tender period of the open offer, Texmaco?s stake in Kalindee Rail rose to a little over 49% as Poddar had earlier secured about 37% stake.
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