TITAGARH RAIL SYSTEMS LIMITED has informed the Exchange about Preferential issue of 21,16,402 Convertible Warrants
TITAGARH · price
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Titagarh Rail Systems Limited's Board has approved raising up to Rs. 199.99 Crores through a preferential allotment of 21,16,402 convertible warrants at Rs. 945 per warrant to promoter group members Mrs. Rashmi Chowdhary and Mr. Prithish Chowdhary. Each warrant is convertible into one equity share of Rs. 2 face value, with 25% payable upfront and the remaining 75% at the time of conversion, exercisable within 18 months. Post full conversion, Rashmi Chowdhary's holding will rise from 7.52% to 8.56%, while Prithish Chowdhary will hold 0.39%. Shareholders' approval will be sought at an EGM scheduled for 8th August 2025.
This promoter-led capital infusion signals confidence from the promoters in the company's growth prospects and will strengthen the equity base by nearly Rs. 200 Crores. Existing shareholders may see some dilution on full conversion, but the promoter commitment is generally viewed positively by the market.