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.”