Titagarh Wagons Ltd opens QIP

Subsequent to the approval accorded by the Board of Directors of Titagarh Wagons Ltd, at its meeting held on March 4, 2015 and the approval of the shareholders of the Company through postal ballot resolution dated April 13, 2015 for the QIP, the Securities Committee of the Board of Directors of the Company on July 8, 2015, has authorised the opening of the QIP on July 8, 2015.

The committee also approved and adopted the preliminary placement document dated July 8, 2015 in connection with the QIP (the "Preliminary Placement Document") up to an aggregate amount of Rs. 2,500 million. Further, the Company has filed the Preliminary Placement Document with Bombay Stock Exchange Limited and National Stock Exchange of India Limited.

The committee also took on record the relevant date for QIP as July 8, 2015 and floor price of Rs. 104.64 per equity share of face value of Rs. 2 each, as prescribed under the SEBI ICDR Regulations, 2009.

Shares of TITAGARH WAGONS LTD. was last trading in BSE at Rs.108.65 as compared to the previous close of Rs. 113.6. The total number of shares traded during the day was 247719 in over 3465 trades.

The stock hit an intraday high of Rs. 112.5 and intraday low of 108.1. The net turnover during the day was Rs. 27328926.

Source : Equity Bulls

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