National : Jupiter Wagons Limited (JWL), a leading provider of comprehensive mobility solutions encompassing rail, road, and marine transportation has successfully concluded the fund raising exercise through Qualified Institutional Placement (QIP) for Rs. 125 crores. The QIP got an overwhelming response from investors like Tata Mutual Fund, Ananta Capital, ITI Mutual Fund, etc. The funds raised through QIP will be utilized to accelerate Jupiter Wagons’ growth and continue its journey as one of the fastest-growing companies in the mobility solution space with enhanced manufacturing capabilities. JWL aims to use the fund for the acquisition of Stone India, working capital optimisation, and other corporate purposes.
Mr. Vivek Lohia, Managing Director, JWL on the successful completion of the QIP said, “We are ecstatic about the positive response we got in our QIP, which indicates the trust of institutional investors in JWL and its vision. Through this, we intend to improve the efficiency of our working capital, accelerate our growth trajectory through the planned acquisition and pursue other business objectives. The company has made its mark in railways through its diverse product portfolio and our entry into the commercial electric vehicle (CEV) business has further strengthened our position as an emerging leader in mobility solutions. We see huge potential in this segment and are hopeful that this will contribute significantly to the overall growth of the group. Working in tandem with the government’s agenda on infrastructure development in railways and road, we are optimistic about being the preferred partner in achieving the goal.” The accomplishment of the QIP represents an important milestone for JWL reaffirming its position as the leading provider of complete mobility solutions and underscoring its commitment to contributing to the infrastructure segment. Systematix Corporate Services Limited was the sole Book Running Lead Manager (BRLM) to the QIP