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Jupiter Wagons redirects Rs 50 crore for foundry capacity at Bandel, approved by shareholders
13-Nov-2026, 06:42
Jupiter Wagons Limited informed the BSE Limited and National Stock Exchange of India Limited that it has submitted a statement of deviation or variation in the utilization of funds raised through a Qualified Institutions Placement on December 4, 2023, for the quarter ended September 30, 2026, revealing a modification in the original allocation of Rs 50.00 crore earmarked for setting up a new captive alloy steel foundry unit at Jabalpur, Madhya Pradesh, which will now be utilized for enhancement of foundry capacity at Bandel unit following shareholder approval dated April 18, 2025, and further utilization of unutilized funds for working capital requirements approved on September 29, 2026.