Nuvama Investment Banking has successfully closed the QIP transaction of INR 7,000 mn for Titagarh Rail Systems Limited

Qualified Institutional Placement

Service

December 2023

Date

Infrastructure

Sector

INR 7,000 MN

Deal Value

Nuvama Investment Banking has successfully closed the QIP transaction of INR 7,000 mn for Titagarh Rail Systems Limited

Deal Details

  • QIP helped Company in raising growth capital for funding Company’s working capital requirements and Repayment of Borrowings
  • Offering received an overwhelming response from investors – ~97% of the book was allocated to ‘Long Only’ Investors
  • Deal was launched within record timelines – within 1 month from kick off

Contribution

  • Only Banker to have raised INR 14,500 mn across 2 QIP Transactions in the Railway Manufacturing Space in recent times
  • Nuvama garnered participation from a diverse investor set including Marquee ‘Long Only’ FIIs, Mutual Funds and Insurance Companies
    • Highest number of investors converted
    • Highest number of Long Only investors converted
    • Highest number of New investors converted
  • Nuvama worked closely with the Company through the entire QIP process to ensure smooth and successful closure