Jupiter Wagons Limited (JWL), the mobility solutions provider, raised Rs. 125 crores through Qualified Institutional Placement (QIP). The QIP received a massive response from investors such as Tata Mutual Fund, Ananta Capital, ITI Mutual Fund, etc.
The funds will be used to accelerate Jupiter Wagons’ growth and for the acquisition of Stone India, working capital optimisation, and other corporate purposes. The funds will be further utilised to improve the efficiency of the working capital, accelerate the growth trajectory of the organisation through the planned acquisition and pursue other business objectives. It is pertinent to note that Systematix Corporate Services Limited was the sole Book Running Lead Manager (BRLM) to the QIP.
On the successful completion of the QIP, Vivek Lohia, Managing Director, JWL said that the company was ecstatic about the positive response it received for the QIP. He added that this accomplishment indicates the trust of institutional investors in JWL and its vision. He further added that the company has made its mark in railways through its diverse product portfolio and the entry into the commercial electric vehicle (CEV) business has further strengthened its position as an emerging leader in mobility solutions.