JWL concluded raising INR 125 crore through a qualified institutional placement (QIP) and the money will be utilised in funding the acquisition of Stone India, modernisation and expansion of wagon-making capacity. "We plan to make closed Stone India operational in the next six months. We will modernise the factory with a capex of INR 25-30 crore to make it a cost-efficient producer of railway freight car braking systems and electric pantographs. This renovated plant will generate employment for 100 people," JWL Managing Director Vivek Lohia told PTI.