Titagarh Wagons to raise Rs 250 crore via equity placements

Kolkata (KOAA): Titagarh Wagons has decided to raise funds worth around Rs 250 crore though equity placements with qualified institutional investors. The company aims to submit the offer document with SEBI by early next month. Meanwhile, it has sought shareholders’ approval through a postal ballot for the fund-raising plan.

Further, the company has proposed sub-division of one share of Rs 10 each into 5 shares of Rs 2 each. Shareholders have been asked to send in their votes within April 11.

Titagarh Wagons is engaged in the business of manufacturing Railway Wagons, EMU (Rail Coaches), Bailey Bridges, Heavy Earth, Moving and Mining Equipment, Steel and SG iron castings of moderate to complex configuration etc.

Meanwhile, Titagarh Wagons Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on April 13, 2015, inter alia, to take on record the Audited Financial Results for the financial year ended March 31, 2015 and to consider recommendation of Dividend if any.