Titagarh Wagons debuts at Rs 550 on BSE

Titagarh Wagons (TWL), a private sector railway wagon manufacturer in India, has listed at Rs 550 on the BSE, a premium of 1.85% over its issue price of Rs 540.

At 10.04 am, the stock was trading at Rs 637.10 on the BSE. It has touched an intraday high of Rs 698 and intraday low of Rs 550. Trading volumes of the stock was 6,40,070 shares.

On the NSE, the share opened at Rs 540. It was quoting at Rs 692.10 with trading volumes of 10,89,162 shares and a turnover of Rs 71.55 crore. The stock touched an intraday high of Rs 704.80 and intraday low of Rs 540.

The company had come out with 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. 

It is 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.