Titagarh Rail Systems Reports No Deviation in Warrant Proceeds Utilization

Titagarh Rail Systems Ltd has filed a statement confirming no deviation in the utilization of proceeds from its convertible warrants issuance for the quarter ended June 30, 2026. The funds, raised via preferential issue on November 4, 2025, totaling ₹199.99 Crores (with ₹49.99 Crores received upfront), were intended for working capital loan repayment, general corporate purposes, and reimbursement of capital expenditure. The company has confirmed that the utilization aligns with the objects stated in its notice for the Extraordinary General Meeting held on August 8, 2025. The statement, annexed as Annexure-A, also indicates that a monitoring agency, Care Ratings Limited, is involved, and no deviation was reported.