Jupiter Wagons Ltd. receives board approval to raise Rs. 700 crores through QIP

KOLKATA, SEPTEMBER 5, 2023 (TGN):  Jupiter Wagons Limited (JWL), a leading provider of comprehensive mobility solutions encompassing rail, road, and marine transportation has successfully received the board approval to raise Rs. 700 crores through QIP.  The same will be raised through the issuance of Equity Shares in accordance with Chapter VI of the Securities and Exchange Board of India.

The company is set to issue equity shares with a total value of 700 Crores, a strategic move aimed at bolstering the company's resources for expansion, subsidiary investments, joint ventures, capital adequacy enhancement, and various manufacturing endeavors.

Mr. Vivek Lohia, Managing Director, JWL, says,” The objective is to further strengthen the company’s financial position and solidify our market presence and leadership position.  With a vision to amplify the government’s goal to elevate the rail infra network in India, we at Jupiter Wagons are optimistic to be the most preferred partner. The fund will be utilized for ramping up wagon manufacturing capacity, new foundry plant at Jabalpur wagon facility, expansion of existing foundry plant at Kolkata wagon facility, and backward integration of wagon business.”

About Jupiter Wagons Ltd. (JWL) (BSE: 533272; NSE: JWL)

Jupiter Group is a premier manufacturer of railway wagons, passenger coaches, wagon components and castings in India and counted among the most respected manufacturers of advanced railway transportation equipment across the world. Over the last decades, they have emerged as a one-stop solutions provider within this sector. Jupiter Wagon Limited’s robust technology foundation underpins their status as one of the fastest-growing within our industry.

With a rich legacy over four decades, the Company has leveraged its deep technological capabilities and robust financial position to emerge as a one-stop shop for mobility solutions and reinforce its position as one of the fastest growing within the industry. Catering to industries such as Railways (Freight + Passenger), Metro Rail, Automobile, Transportation, Logistics, Construction Equipment, Municipalities, Healthcare, Energy, Mining and Infrastructure, the Company boasts a marquee client base including the Indian Railways, American Railroads, Indian Ministry of Defense, Tata Motors, GE, Volvo Eicher Motors, Bharat Benz, and Avia Motors. For more details, please visit www.jupiterwagons.com