Titagarh Rail Systems has allotted 75,02,679 equity shares to the eligible Qualified Institutional Buyers (QIBs) at the issue price of Rs. 933 per equity share aggregating to Rs. 700 crore. The face value of shares is Rs.2/- each and issue price includes premium of Rs.931 per share, computed in accordance with the applicable regulatory provisions.

The QIP, raised capital for repayment of certain outstanding borrowings availed by the Company, fund working capital requirement and for general corporate purposes. The Issue has been substantially oversubscribed demonstrating the domestic and global investor community's interest by participating in the issuance, thereby recognising Titagarh's robust fundamentals.