Bengaluru: Titagarh Rail Systems Limited has announced plans to raise ~₹200 crore 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 ₹2, at a floor price of ₹945 per warrant. The entire issue, aggregating ~₹200 crore, is being made to members of Promoter Group – Mrs. Rashmi Chowdhary and Mr. 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

Post‐Issue Shareholding Impact

AllotteesPre‐Issue SharesPre‐Issue %Warrants AllottedPost‐Issue SharesPost‐Issue %*
Mrs.       Rashmi Chowdhary1,01,22,6307.52%15,87,3011,17,09,9318.56%
Mr.        Prithish Chowdhary00.00%5,29,1015,29,1010.39%

*Post‐conversion shareholding percentage

Purpose of Funds

Proceeds from the issue will be deployed for various purposes including the following:

  • Planned investment in state-of-the art plant and machinery
  • Support working capital to enhance chances of new order wins
  • Invest in technology and automation for future‐ready rail solutions
  • Other permissible general corporate and administrative purposes