The funds would be raised via issue equity shares or other securities including through preferential issue, qualified institutional placement, rights issue, or through any other permissible mode or a combination thereof.

Titagarh Wagons is the largest private sector manufacturer of railway coaches (EMUs, MEMUs) and the largest wagon maker (other than railways).

The company reported a consolidated net profit of Rs 48.24 crore in Q4 FY23 as against a net loss of Rs 24.95 crore in Q4 FY22. Net sales more than doubled to Rs 974.22 crore in the fourth quarter from Rs 422.19 crore recorded in the same period last year.

The scrip jumped 4.75% in trade today to hit the day's high at 409.20, which is also a 52-week high for the counter.

In the past six months, the stock has zoomed 92.97% while the benchmark Sensex has added 1.25% during the same period.