Latest News | Titagarh Rail Systems Raises Rs 700 Crore Via Issue of Shares to Qualified Institutional Buyers

New Delhi, Dec 13 (PTI) Titagarh Rail Systems Ltd on Wednesday said it has raised Rs 699.9 crore by issuing fresh shares to Qualified Institutional Buyers.

The issue of Titagarh Rail Systems Ltd (TRSL), formerly known as Titagarh Wagons Ltd, opened on December 7 and closed on Tuesday.

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"In respect of the issue which opened on Monday, 7th December, 2023 and closed on Tuesday, 12th December, 2023, the Qualified Institutions Placement (QIP) Committee at its meeting held today...approved the issue and allotment of 75,02,679 equity shares to the eligible Qualified Institutional Buyers (QIBs) at the issue price of Rs 933 per equity share ...aggregating to Rs 69,999.99 lakh," the company said in a BSE filing.

The Kolkata-based company is a leading railway rolling stock manufacturer.

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In 2015, Titagarh acquired a 100 per cent stake in Titagarh Firema SpA, an Italian company known for manufacturing passenger rolling stock.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)