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Jupiter Wagons raises Rs.125-Cr through QIP route

Business Line  

Jupiter Wagons Ltd (JWL) has raised INR 125 crore through Qualified Institutional Placement (QIP) route. The funds raised will be used for funding the acquisition of Stone India, working capital optimisation, and other corporate purposes. Jupiter Wagons Ltd is the flagship company of the Jupiter Wagons Group. Investors in the QIP include Tata Mutual Fund, Ananta Capital, and ITI Mutual Fund. The company, which provides mobility solutions encompassing rail, road, and marine transportation, is also looking to strengthen its presence in the mobility solution space with enhanced manufacturing capabilities. In October last year, the company was selected as a successful resolution applicant by the Committee of Creditors (CoC) of Stone India Ltd, a supplier of brake systems and other engineering products for the Indian Railways.