I would like to inform about a opportunity to all investor. TITAGARH WAGONS LTD. (TWL), is entering capital market with an initial public offering, The Issue comprises a fresh issue of 20,68,111 Equity Shares and an offer for sale of 3,15,657 Equity Shares by Mrs. Rashmi Chowdhary and Strategic Ventures Fund (Mauritius) Limited (the "Selling Shareholders"). The Issue consists of a net issue of 23,68,768 Equity Shares.
ABOUT TITAGARH WAGONS LTD.
Titagarh Wagons Limited operates two manufacturing facilities located at Titagarh and Uttarpara, in West Bengal. The Uttarpara unit functions as its second manufacturing plant for wagons, in addition to manufacturing heavy earth moving and mining equipment. As an "Industry Partner" to the Defence Research and Development Organisation, Ministry of Defence ("DRDO"), the Company also manufactures other products for the Indian Defence establishment, such as special purpose wagons, shelters and other engineering equipments.
HIGHLIGH
| Sector | Heavy Engineering |
| No. of Equity shares fresh issue | 20,68,111 Shares |
| Price band | Rs.540 - 610 |
| Max. Applicable Amount for Retail Investor | Rs.1,00,000 |
| Issue size | 128.72cr. - 145.41cr. |
| Issue open - close | 24-March-2008 - 27-March-2008 |
| Minimum application and in multiples of | 10 Shares |
| Maximum application | 160 Shares |
| Cheque in favour - Resident/ NRO | "ESCROW ACCOUNT-TWL Public Issue- R" |
| Cheque in favour - NRE | "ESCROW ACCOUNT-TWL Public Issue-NR" |
| Min. & Max. Amount for retail category | 1Lot-Rs6100 & 16Lot-Rs 97600 @ cut off. |
| Listing | BSE, NSE |
objective of this issue
q Setting up an EMU manufacturing facility at Uttarpara unit,
q Modernising and expanding the existing facilities at Titagarh and Uttarpara units,
q Setting up an axle machining and wheelset assembly facility at Uttarpara unit,
q Constructing a corporate office and a design cum research and development office,
q Strategic acquisition or investment,
q Brand building exercise and
q General corporate purposes.
Since Fiscal 2003, the Company's total income and PBT have grown from Rs 471.7 million and Rs 47.1 million respectively to Rs 2,840.5 million and Rs 448.0 million respectively in Fiscal 2007, which represents a CAGR of 57% and 76% respectively, during this period. The wagon dispatches of the Company have increased from 644 wagons in Fiscal 2003 to 2,073 wagons in Fiscal 2007.
Amongst Private Equity investments, Blackstone has picked up a minority interest in Titagarh Wagons for Rs 672 a share, which is the fifth major investor to put money in Titagarh Wagons. Other investors include GE Capital Infrastructure (15%), JP Morgan (5%), 2i Capital (6%) and Chrys Capital (6.5%).
The order book of the Company stands at Rs 7,531.1 million with the rolling stock division constituting nearly Rs 6,693.9 million as on January 31, 2008. The Company is structured along three broad business lines: a) wagon manufacturing division, b) special projects division (includes defence, bailey bridges and other fabricated equipment) and c) heavy earth moving and mining equipment division.
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