+
Titagarh Rail to Raise Funds via Preferential Issue of Warrants
RAILWAYS & METRO RAIL

Titagarh Rail to Raise Funds via Preferential Issue of Warrants

Titagarh Rail Systems Limited has announced plans to raise ~Rs 2 billion through a preferential allotment of 21,16,402 convertible warrants to members of its Promoter Group. The Board of Directors approved the proposal at its meeting held on 9 July 2025, subject to requisite approvals.

Fund raising details:
Titagarh will issue 21,16,402 warrants, each convertible into one equity share of face value Rs 2, at a floor price of ₹945 per warrant. The entire issue, aggregating ~Rs 2 billion, is being made to members of Promoter Group - Rashmi Chowdhary and Prithish Chowdhary on a preferential basis in accordance with Chapter V of the SEBI ICDR Regulations.

Key terms:
  • Issue size: 21,16,402 warrants amounting to ₹199,99,99,890.
  • Warrant exercise price: ₹945 per warrant
  • Deposit amount: 25% on application; balance 75% on conversion
  • Conversion period: Within 18 months from allotment

Extraordinary General Meeting
An Extraordinary General Meeting (EGM) of shareholders is scheduled on 8 August 2025 via video conferencing to seek approval for the proposed preferential issue of warrants.

Management Comment
Commenting on this development, Umesh Chowdhary, Vice Chairman and Managing Director, Titagarh Rail Systems Limited said:
“The Board approval dated 9th July 2025 underlines our commitment to efficient capital allocation and reinforces promoter confidence in Titagarh Rail’s growth trajectory. The fresh capital will accelerate capacity expansion, bolster working capital, and support our strategic initiatives to capture the rising demand in freight and passenger rolling stock.”

Titagarh Rail Systems Limited has announced plans to raise ~Rs 2 billion through a preferential allotment of 21,16,402 convertible warrants to members of its Promoter Group. The Board of Directors approved the proposal at its meeting held on 9 July 2025, subject to requisite approvals.Fund raising details:Titagarh will issue 21,16,402 warrants, each convertible into one equity share of face value Rs 2, at a floor price of ₹945 per warrant. The entire issue, aggregating ~Rs 2 billion, is being made to members of Promoter Group - Rashmi Chowdhary and Prithish Chowdhary on a preferential basis in accordance with Chapter V of the SEBI ICDR Regulations.Key terms:Issue size: 21,16,402 warrants amounting to ₹199,99,99,890.Warrant exercise price: ₹945 per warrantDeposit amount: 25% on application; balance 75% on conversionConversion period: Within 18 months from allotmentExtraordinary General MeetingAn Extraordinary General Meeting (EGM) of shareholders is scheduled on 8 August 2025 via video conferencing to seek approval for the proposed preferential issue of warrants.Management CommentCommenting on this development, Umesh Chowdhary, Vice Chairman and Managing Director, Titagarh Rail Systems Limited said:“The Board approval dated 9th July 2025 underlines our commitment to efficient capital allocation and reinforces promoter confidence in Titagarh Rail’s growth trajectory. The fresh capital will accelerate capacity expansion, bolster working capital, and support our strategic initiatives to capture the rising demand in freight and passenger rolling stock.”

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code