Jupiter Wagons raises Rs 125 crore through QIP
Jupiter Wagons (JWL) has successfully concluded the fundraising exercise through Qualified Institutional Placement (QIP) for Rs 125 crore. The QIP got an overwhelming response from investors like Tata Mutual Fund, Ananta Capital, ITI Mutual Fund, etc.
The funds raised through QIP will be utilized to accelerate Jupiter Wagons’ growth and continue its journey as one of the fastest-growing companies in the mobility solution space with enhanced manufacturing capabilities. JWL aims to use the fund for the acquisition of Stone India, working capital optimisation, and other corporate purposes.
Jupiter Wagons is a leading company providing complete mobility solutions with a rich legacy of over four decades.