Titagarh Rail Systems Limited has filed its quarterly compliance statement confirming no deviation in the utilization of warrant proceeds for the quarter ended December 31, 2025. The statement was submitted to BSE and NSE in accordance with Regulation 32 of SEBI Listing Regulations.

Fund Raising Details

The company successfully raised funds through convertible warrants issued on preferential basis, with key parameters outlined below:

The company has received Rs. 49.99 crores as upfront consideration, representing 25% of the total issue size. The remaining 75% will be received when warrant holders exercise their conversion option to convert warrants into equity shares during the 18-month tenure.

Fund Allocation and Utilization

The proceeds from the warrant issuance have been allocated across three specific objectives:

Out of the three allocated purposes, the company has utilized Rs. 50.00 crores for reimbursement of capital expenditure, while no funds have been utilized for working capital loan repayment or general corporate purposes during the quarter.

Compliance and Oversight

The quarterly statement was prepared in compliance with SEBI circular CIR/CFD/CMD1/162/2019 dated December 24, 2019. The Audit Committee of the company has reviewed the fund utilization statement and confirmed no deviations from the original objects stated in the notice dated July 9, 2025, for the Extraordinary General Meeting held on August 8, 2025.

The company secretary Aditya Purohit signed the compliance document on February 13, 2026, confirming adherence to regulatory requirements. Care Ratings Limited continues to serve as the monitoring agency for the fund utilization process.

Regulatory Framework

The filing demonstrates Titagarh Rail Systems' commitment to transparent fund utilization practices under SEBI's regulatory framework. The company confirmed that no changes were made to the terms of contract or objects without shareholder approval, maintaining full compliance with listing obligations and disclosure requirements.

Titagarh Rail Systems Limited has announced that its Board of Directors will convene on February 12, 2026, to review and approve the company's unaudited financial results for the third quarter of fiscal year 2026. The meeting will focus on both standalone and consolidated financial results for the quarter ended December 31, 2025.

Board Meeting Details

The company has formally notified both BSE Limited and the National Stock Exchange of India Limited about the upcoming board meeting in accordance with Regulation 29 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Trading Window Restrictions

In compliance with insider trading regulations, Titagarh Rail Systems has implemented trading window restrictions for designated persons. The trading window closure began on January 1, 2026, and will continue until 48 hours after the declaration of the unaudited financial results.

This measure aligns with the company's Code of Conduct to Regulate, Monitor and Report Trading by Insiders, which was adopted pursuant to SEBI Prohibition of Insider Trading Regulations, 2015. The company had previously communicated about these restrictions in an intimation letter dated December 26, 2025.

Corporate Information

The announcement was signed by Aditya Purohit, Company Secretary and Compliance Officer, on February 2, 2026. Titagarh Rail Systems Limited operates from its registered office at Poddar Point, Park Street, Kolkata, with its corporate office located at Titagarh Towers, Anandapur, Kolkata.