News Railways

Titagarh Rail Systems raises Rs 700 cr via issue of shares, ET Infra

[ad_1]

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.

“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.

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

  • Published On Dec 14, 2023 at 03:43 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Get updates on your preferred social platform

Follow us for the latest news, insider access to events and more.

[ad_2]

Source link