Titagarh Rail Systems to Sell Subsidiary Titagarh Singapore Pte. Limited
Titagarh Rail Systems Limited announced on March 27, 2026, that its Board of Directors approved the sale of its entire 100% shareholding in Titagarh Singapore Pte. Limited (TSPL) to Worldvmc Singapore Pte. Limited (WSPL).TSPL, incorporated in 2008 to expand the company’s business in overseas markets, has remained dormant and is no longer part of Titagarh Rail Systems' strategic vision. Following the completion of the transaction, TSPL will cease to be a subsidiary of Titagarh Rail Systems, and the name "Titagarh" will be removed from TSPL. The sale is expected to be completed by June 30, 2026, pending statutory approvals.
The consideration for the sale is USD 154,707, determined according to FEMA/RBI regulations.
According to disclosures, TSPL's contribution to the listed entity's turnover and net worth during the last financial year was Nil and 0.26% respectively.
The transaction is considered a related party transaction because Vishnu Bhalotia, a director of TSPL, also holds directorship and equity share capital in the buyer, WSPL. The transaction is being conducted at arm’s length.
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