Jupiter Wagons raises Rs 125 cr via qualified institutional placement route

The funds will be utilized to accelerate its wagon manufacturing capacity, JWL said in a statement on Tuesday

Press Trust of India New Delhi

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Jupiter Wagons Ltd (JWL) has raised Rs 125 crore through qualified institutional placement (QIP) route.

The funds will be utilized to accelerate its wagon manufacturing capacity, JWL said in a statement on Tuesday.

"JWL...has successfully concluded the fundraising exercise through QIP for Rs 125 crore. The QIP got an overwhelming response from investors like Tata Mutual Fund, Ananta Capital, ITI Mutual Fund, etc," it said.

Managing Director Vivek Lohia said, through this fundraise the company intends to improve the efficiency of its working capital, accelerate growth trajectory through the planned acquisition and pursue other business objectives.

JWL is a leading provider of comprehensive mobility solutions encompassing rail, road, and marine transportation. The company also has a presence in the commercial electric vehicle (CEV) segment.

The company did not share any further details on the fundraise.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 16 2023 | 6:31 PM IST

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