Titagarh Rail Systems: No Deviation in Convertible Warrant Fund Utilization

Titagarh Rail Systems Ltd confirms no deviation in the utilization of proceeds from its convertible warrants issuance for the quarter ended September 30, 2026. The funds, raised via preferential issue on November 4, 2025, totaling ₹199.99 Crores (with ₹49.99 Crores received upfront as of June 30, 2026), were intended for working capital loan repayment, general corporate purposes, and reimbursement of capital expenditure. The company reported that ₹50.00 Crores were utilized for reimbursement of capital expenditure during the quarter, with no deviation from the stated objects.