Transrail Lighting has further made an investment by way of subscription to the equity share capital of its wholly owned subsidiary in the UAE, namely Transrail Trading LLC (formerly known as Transrail Contracting LLC).
The Company has invested AED 12,500,000 in the share capital of Transrail Trading LLC. Based on an exchange rate of AED 1 = INR 25.22, the investment amounts to approximately Rs 315,250,000 ( Rs 31.53 crore). Consequent to the aforesaid investment, Transrail Trading LLC continues to remain a wholly owned subsidiary of the Company.