Titagarh Rail Systems Limited has announced a capital raise of approximately ₹200 crore through the preferential allotment of convertible warrants to individuals from its Promoter Group. This proposal was approved by the company’s Board of Directors during its meeting held on 9 July 2025 and will move forward pending necessary regulatory and shareholder approvals.
The fundraise involves the issuance of 21,16,402 warrants, each convertible into one equity share with a face value of ₹2. The floor price for each warrant has been set at ₹945. The total issue, valued at ₹199.99 crore, will be offered exclusively to Rashmi Chowdhary and Prithish Chowdhary, in accordance with Chapter V of SEBI’s Issue of Capital and Disclosure Requirements (ICDR) Regulations.
As per the terms of the issue, the warrant holders are required to pay 25% of the issue price at the time of application. The remaining 75% must be paid upon conversion of the warrants into equity shares. The conversion must take place within 18 months from the date of allotment.
The proceeds from this preferential issue will support the company’s ongoing growth and operational plans. A significant portion will be directed toward acquiring advanced manufacturing equipment and upgrading production capabilities to meet evolving industry demands.
A part of the funds will also be allocated toward working capital to improve the company’s ability to secure new contracts, especially in a competitive and evolving market for rail and metro transport solutions. Enhancing liquidity will also enable smoother execution of ongoing projects.
Titagarh is also planning to invest in next-generation technology and automation, which are critical for strengthening its position in the domestic and international railway manufacturing segments. The focus remains on creating future-ready rail solutions that meet global standards.
Additionally, the capital infusion will be used for general corporate purposes, including administrative expenses, as per standard practices. This move is in line with the company’s broader vision of scaling operations while ensuring financial stability and technological readiness.
With this strategic step, Titagarh Rail Systems aims to reinforce its position as a leading manufacturer of passenger coaches, metro trains, freight wagons, and other rail-based infrastructure, both within India and in global markets.
Titagarh is a diversified conglomerate with expertise in railways, defense, and other infrastructure projects. With a reputation for innovation and quality, the company has consistently delivered cutting-edge solutions in transportation, including rail coaches, metro trains, and defense equipment.
Titagarh’s commitment to excellence is reflected in its state-of-the-art manufacturing facilities, strong research and development capabilities, and a customer-centric approach. Through its expertise, Titagarh continues to shape the future of urban mobility and infrastructure development in India and beyond.
Titagarh Rail Systems is a prominent provider of comprehensive mobility solutions with manufacturing facilities in India and Italy. The company specializes in passenger and freight rolling stock, including semi-high-speed trains, metros, passenger coaches, propulsion systems, and a range of specialized wagons. With a focus on innovation and excellence, Titagarh is dedicated to shaping the future of transportation and contributing to India’s “Make in India” initiative.
