Titagarh Rail to Raise Funds via Preferential Issue of Warrants

11 Jul 2025 CW Team

Titagarh Rail Systems 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 Rs 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 Rs 199,99,99,890.
Warrant exercise price: Rs 945 per warrant
Deposit amount: 25 per cent on application; balance 75 per cent 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 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.”

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..