+
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.”

Next Story
Infrastructure Energy

REC Hosts 56th AGM, Highlights Record Growth and Sustainability

REC Limited conducted its 56th Annual General Meeting (AGM) today through video conferencing, chaired by Jitendra Srivastava, Chairman & Managing Director. The meeting highlighted the company’s record operational and financial performance during the year, along with its strong focus on sustainability and ESG-led initiatives.Jitendra Srivastava, Chairman & Managing Director, in his address noted that REC achieved significant milestones during the year, strengthening its position as a performance-driven public financial institution. Loan sanctions stood at Rs 3.37 trillion, with disbur..

Next Story
Infrastructure Transport

ADGBR Reviews Road Projects under Project Vartak

Additional Director General Border Roads (ADGBR) Jitendra Prasad conducted a four-day review of ongoing road and bridge construction works under Project Vartak in the area of responsibility (AoR) of the 42 Border Roads Task Force (BRTF) from 19 to 22 August.Prasad inspected key infrastructure projects including the Balipara–Charduar–Tawang (BCT) road, Sela–Chabrela–Banga Janga Gonpa road, Banga Janga Gonpa–Lagamche GG road, the Sela tunnel, and multiple roads in the Nelya sector.At various construction sites, project officials briefed him on project scope, progress, timelines, and op..

Next Story
Infrastructure Transport

Nitin Gadkari Launches Three Highway Projects in Madhya Pradesh

Union Minister for Road Transport and Highways, Nitin Gadkari, laid the foundation stone for three National Highway (NH) projects in Madhya Pradesh on 24 August. According to the Ministry of Road Transport and Highways (MoRTH), the projects are designed to reduce travel time, ease congestion, enhance road safety, and improve connectivity across key corridors.The first project covers the four-laning of the 17.87 km Amazhar–Barela stretch, completing the Jabalpur Ring Road. The upgrade will divert heavy vehicles away from the city, reduce accident risks, and ensure smoother connectivity from A..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?