Titagarh Rail Systems Allots 75,02,679 Shares To QIBs At ₹933 Per Share

Titagarh Rail Systems Allots 75,02,679 Shares To QIBs At ₹933 Per Share

Pursuant to the allotment of Equity Shares in the Issue, the paid-up Equity Share capital of the Company stands increased from Rs 25,43,42,178 consisting of 12,71,71,089 Equity Shares to Rs 26,93,47,536 consisting of 13,46,73,768 Equity Shares.

FPJ Web DeskUpdated: Wednesday, December 13, 2023, 11:01 AM IST
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Titagarh Rail Systems Allots 75,02,679 Shares To QIBs At ₹933 Per Share |

Titagarh Rail Systems Limited on Wednesday announced that in continuation to the Issue which opened on Monday, 7th December, 2023 and closed on Tuesday, 12th December, 2023, the Qualified Institutions Placement Committee (the QIP Committee) at its meeting held today has approved the issue and allotment of 75,02,679 Equity Shares to the eligible Qualified Institutional Buyers (QIBs) at the issue price of Rs 933 per Equity Share i.e. at a premium of Rs 931 per Equity Share [(which includes a discount of Rs. 43.10 per Equity Share (4.42 per cent of the floor price, as determined in terms of the SEBI ICDR Regulations) to the floor price], aggregating to Rs.69,999.99 Lakhs, pursuant to the Issue, the company announced through an exchange filing.

The Issue opened on Monday, 7th December, 2023 and closed on Tuesday, 12th December, 2023 and the same was intimated to you through our letters dated 7th December, 2023 and 12th December, 2023, respectively.

Pursuant to the allotment of Equity Shares in the Issue, the paid-up Equity Share capital of the Company stands increased from Rs 25,43,42,178 consisting of 12,71,71,089 Equity Shares to Rs 26,93,47,536 consisting of 13,46,73,768 Equity Shares. The shareholding pattern of the Company, before and after the Issue, will be submitted along with the listing application in the format specified in Regulation 31 of the SEBI Listing Regulations, said through the regulatory filing.

Titagarh Rail Systems Limited shares

The shares of Titagarh Rail Systems Limited on Wednesday at 10:50 am IST were at Rs 1,003.25.

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