Titagarh Wagons (TWL), a private sector railway wagon manufacturer in India, primarily engaged in the business of manufacturing railway wagons, heavy earth moving and mining equipment, bailey bridges, steel and SG iron castings, will list on the bourses with its equity shares on April 21, 2008.

According to Investment Advisor, S P Tulsian, "Titagarh Wagons having issued shares at Rs 540 is likely to list at Rs 565. Investors are advised to remain invested and go for profit booking above Rs 600."

R S Iyer of KR Choksey Securities said, "It is expected to list around its issue price but operators (like they did for Sita Shree Foods) will push the stock around Rs 650. Investors should use that opportunity to sell the stock."

It has been fixed the issue price at Rs 540 per equity share for its initial public offering (IPO) of 23,83,768 equity shares of Rs 10 for cash at a price determined through 100% book building process.

The issue was subscribed to 6.75 times. The qualified institutional bidders portion was subscribed approximately 10.37 times; non institutional bidder portion - 2.77 times; and retail bidder portion - 0.98 times.