Titagarh Wagons IPO Subscription starts March 24

Titagarh Wagons IPO is all set to enter the capital markets with an initial offering of 24.87 lakh equity shares of Rs. 10 each. Titagarh Wagons IPO will open for subscription starts on 24th March, 2008 and the Price band of the issue has been fixed at Rs. 540 on the lower end and Rs. 610 on the higher end of the issue price. Titgarh Wagons will raise around Rs. 111.6 crore to Rs. 126 crore which constitutes around 15 per cent of the post issue paid up capital of the company. The company plans to use the funds raised from the issue for setting up EMU Manufacturing facility and to modernise existing facilities at Titagarh and Uttarpara units.

Titagarh Wagons is a leading private sector wagon manufacturer in India which manufactures railway wagons, ,Heavy Earth Moving, Bailey Bridges and Mining equipment. Titagarh Wagons is an Industry Partner to DRDO and Ministry of Defence which manufactures special purpose wagons, shelters and other engineering equipments for defence. The company has a healthy order book which stands at over Rs 753.11 crore as of January 31, 2008 out of which the majority of the business comes from the Railways.

Titagarh Wagons IPO will close for subscription on March 27, 2008 and proposes to list its Equity Shares on the Bombay Stock Exchange Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”). The Book Running Lead Manager (“BRLM”) to the Titagarh Wagons IPO is Kotak Mahindra Capital Company Limited.

More information and updates on the Titagarh Wagons IPO Subscription details and Titagarh Wagons IPO Allotment will be updated here.