Titagarh Rail Systems Limited has released its Monitoring Agency Report for the quarter ended March 31, 2026. The report details the status of funds raised through a preferential issue of 21,11,932 convertible warrants, totaling ₹199.99 crore. CARE Ratings, serving as the monitoring agency, confirmed that there have been no deviations in the utilization of proceeds and no major concerns regarding the project’s viability during this reporting period.
Preferential Issue Overview
Following the preferential issue of convertible warrants, Titagarh Rail Systems Limited has provided a transparent update on its capital deployment. The total issue size was valued at ₹199.99 crore. As of March 31, 2026, the company has received ₹50.00 crore, representing 25% of the warrant issue price at the time of subscription.
Utilization of Proceeds
The company’s allocation strategy for the raised capital is divided into three primary heads: Working Capital Loan Repayment (₹100.00 crore), General Corporate Purpose (₹49.99 crore), and Reimbursement of Capex (₹50.00 crore). As of the end of the quarter, the full amount raised (₹50.00 crore) has been utilized specifically for the Reimbursement of Capex, completing that particular objective as of November 07, 2025.
Operational Status
The monitoring agency has reported no material deviations in the project objectives. The repayment of working capital loans and the allocation for general corporate purposes remain ongoing processes within the projected 24-month timeline. There are no identified unfavorable events impacting the viability of these projects, ensuring the company remains aligned with its financial and operational targets for the Q4 FY26 period.
Source: BSE
