Titagarh Wagons plans expansion

Kolkata: Titagarh Wagons today announced that it would be entering the capital market with an IPO of 23.8-lakh equity shares to funds its expansion.

Proceeds from the issue would be used to set up an EMU manufacturing facility at Uttarpara as well as for modernising and expanding the existing facilities at Titagarh and Uttarpara.

The money will also be utilised to set up an axle machining and wheel set assembly at Uttarpara and for constructing a corporate office and a design-cum-research and development office.

The issue will open on March 24 and will close on March 27.