The company's board authorized and declared the opening of the issue on Thursday, 7 December 2023.

The floor price of Rs 976.10 is at a discount of 0.72% to the previous day's closing price of Rs 983.15 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue.

The firm said that the issue price will be determined by by the company in consultation with the book running lead managers appointed in relation to the issue.

The company has also informed that a meeting of the committee is scheduled to be held on Tuesday, 12 December 2023 to consider and approve the issue price of the equity shares.

Titagarh Rail Systems (formerly known as Titagarh Wagons) is the largest private sector manufacturer of wagons and an established player in passenger coaches.

The company's consolidated net profit soared 46.4% to Rs 70.59 crore on 54.1% jump in net sales to Rs 935.45 crore in Q2 FY24 over Q2 FY23.