Titagarh Rail Systems Limited has confirmed the status of its warrant proceeds utilization for the quarter ending March 31, 2026. The company maintains that there have been no deviations or variations in the use of funds raised via the issuance of convertible warrants. Following the receipt of ₹49.99 crore, representing 25% of the total ₹199.99 crore issue size, the capital has been deployed in accordance with the initially approved objectives.
Financial Update on Warrant Proceeds
Titagarh Rail Systems Limited has successfully verified that the funds raised through the issuance of convertible warrants remain fully aligned with the company’s previously stated objectives. As of the quarter ended March 31, 2026, the company has confirmed that there is no deviation or variation in the application of these funds, ensuring complete transparency for stakeholders regarding the capital deployment strategy.
Breakdown of Capital Utilization
The company initiated a fundraising effort with a total issue size of ₹199.99 crore. By December 31, 2025, the firm received an upfront subscription amount of ₹49.99 crore (25% of the total). The remaining 75% is structured to be collected as warrant holders exercise their conversion options over an 18-month tenure.
Current utilization data shows that the entirety of the ₹50.00 crore allocated for the Reimbursement of Capital Expenditure has been effectively utilized. Meanwhile, the allocations for Working Capital Loan Repayment (₹100.00 crore) and General Corporate Purposes (₹49.99 crore) remain fully intact with NIL funds utilized to date, reflecting a strategic approach to capital management.
Source: BSE
