TITAGARH RAIL SYSTEMS REPORTS NO DEVIATION IN UTILIZATION OF CONVERTIBLE WARRANTS PROCEEDS
TITAGARH RAIL SYSTEMS LIMITED has confirmed that there was no deviation or variation in the utilization of proceeds from the issuance of Convertible Warrants on a preferential basis for the quarter ended March 31, 2026.The company provided details regarding the fundraising proceeds, which originated from the issuance of convertible warrants on a preferential basis on November 04, 2025. The total issue size amounted to Rs. 199.99 Crores. Of this total amount, the company confirmed that Rs. 49.99 Crores, representing 25% of the issue size, was received as upfront consideration or subscription amount as of December 31, 2025. The remaining 75% of the funds are scheduled to be received as warrant holders exercise their conversion option into equity shares during the tenure of 18 months.
Fund Utilization Status
The statement confirmed that there was no deviation in the use of these funds during the reporting period. The monitoring agency for the proceeds is Care Ratings Limited.The financial details concerning the fund raising and utilization are summarized below:
| Detail | Information |
|---|---|
| Mode of Fund Raising | Issuance of convertible Warrants on preferential basis |
| Date of Funds Raised | November 04, 2025 |
| Total Amount Raised | Rs. 199.99 Crores |
| Upfront Consideration Received | Rs. 49.99 Crores (25% of issue size) |
| Period Reported | Quarter ended March 31, 2026 |
| Deviation/Variation in Use of Funds | No |
Allocation and Utilization of Proceeds
The originally intended objects for which the funds were raised included three primary purposes: Working Capital Loan Repayment, General Corporate Purpose, and Reimbursement of Capital Expenditure. The company reported the utilization amount for each object in the quarter.The allocation and utilization of the funds are detailed as follows:
| Original Object | Original Allocation (Rs. in Crores) | Funds Utilized (Rs. In Crores) |
|---|---|---|
| Working Capital Loan Repayment | 100.00 | NIL |
| General Corporate Purpose | 49.99 | NIL |
| Reimbursement of Capital Expenditure | 50.00 | 50.00 |
TITAGARH Stock Price Movement
As of 10:59 AM, shares of TITAGARH RAIL SYSTEMS LIMITED are shedding 0.65% in live trading, currently priced at ₹768.8. The stock sheds ₹5.05 on the day, with activity seeing a total volume of 343,671 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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