TIL Limited Fixes March 23 Record Date for ₹199.51 Crore Rights Issue

TIL Limited has successfully concluded its Rights Issue Committee meeting on March 16, 2026, approving key parameters for its proposed rights issue worth ₹199.51 crore. The committee, which met from 9:00 p.m. to 9:30 p.m., fixed March 23, 2026 as the record date for determining eligible shareholders.

Rights Issue Details Approved

The Rights Issue Committee has finalized the structure and pricing of the proposed equity share issuance. The company will issue partly paid-up equity shares with specific payment terms and entitlement ratios for existing shareholders.

Parameter: Details Issue Size: ₹199.51 crore Total Shares: 1,20,91,760 partly paid-up equity shares Issue Price: ₹165 per fully paid-up equity share Face Value: ₹10 per equity share Application Payment: 75% of issue price Record Date: March 23, 2026 Entitlement Ratio: 11 rights shares for every 64 shares held

Stock Exchange Approvals Received

The committee acknowledged receipt of in-principle approvals from both major stock exchanges. NSE provided approval through letter reference NSE/LIST/53745 dated March 16, 2026, while BSE issued approval via reference LOD/RIGHT/SS/FIP/1885/2025-2026 dated March 16, 2026.

Rights Entitlement Process

Eligible equity shareholders as on the record date will receive their rights entitlements credited to their demat accounts under a new ISIN before the issue opening date. The rights entitlement will be based on shareholding as of March 23, 2026, with the ratio of 11 new shares for every 64 existing shares held.

Previous Meeting Postponements

This successful committee meeting follows a series of postponements from the originally scheduled dates of March 12-13, 2026. The delays were attributed to pending stock exchange approvals, which have now been secured from both NSE and BSE.

Next Steps

The Rights Issue Committee has decided to reconvene to finalize remaining details and approve the Letter of Offer for the proposed rights issue. The company operates from its registered office at 1, Taratolla Road, Garden Reach, Kolkata-700 024, with Company Secretary Chandrani Chatterjee handling regulatory communications.

TIL Limited has announced the official e-voting results of its Extraordinary General Meeting held on 14th March, 2026, confirming overwhelming shareholder approval for both critical resolutions. The company submitted the voting results to stock exchanges pursuant to Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with the Consolidated Scrutinizer's Report.

Major Acquisition Receives Strong Approval

Shareholders decisively approved the acquisition of 60% equity stake in Tulip Compression Private Limited, representing 37,90,250 equity shares of face value Rs 10 each. The acquisition involves purchasing shares from Gainwell Commosales Private Limited, a related party under the Companies Act, 2013.

Parameter: Details Acquisition Target: Tulip Compression Private Limited Stake Percentage: 60% Number of Shares: 37,90,250 equity shares Face Value per Share: Rs 10 Total Consideration: Rs 119,01,38,500 Seller: Gainwell Commosales Private Limited

Voting Results Demonstrate Strong Support

The e-voting results revealed exceptional shareholder confidence in both resolutions. For the acquisition resolution, 8,184,273 votes were polled representing 12.28% of outstanding shares, with 8,184,252 votes in favour (99.99%) and only 21 votes against (0.01%).

Voting Category: Votes Polled Votes in Favour Approval Rate Public-Institution: 2,912 2,912 100% Public-Non Institution: 8,181,361 8,181,340 99.99% Total Acquisition: 8,184,273 8,184,252 99.99%

Enhanced Borrowing Capacity Approved

The second resolution for enhancing the company's borrowing limit to Rs 600 crores under Section 180(1)(c) of the Companies Act, 2013 received even stronger participation. A total of 53,761,705 votes were polled representing 80.72% of outstanding shares, with 53,761,684 votes in favour (99.99%) and 21 votes against (0.01%).

Shareholder Category: Participation Rate Approval Rate Promoter/Promoter Group: 100.00% 100% Public-Institution: 0.52% 100% Public-Non Institution: 39.97% 99.99%

E-Voting Process and Compliance

The remote e-voting window operated from 9:00 AM on 10th March, 2026 to 5:00 PM on 13th March, 2026, with additional e-voting during the EGM from 11:30 AM to 12:10 PM on 14th March, 2026. Ms. Rupanjana De, Practicing Company Secretary from Rupanjana De & Co., served as the appointed Scrutinizer ensuring transparent voting processes through NSDL's e-voting platform.

The company's total shareholder base comprised 11,026 shareholders as of the cut-off date of 7th March, 2026, with 58 shareholders attending the EGM through video conferencing. The resolutions authorize the Board of Directors and designated personnel to execute the acquisition agreements, determine final terms, and handle regulatory filings with authorities including the Registrar of Companies, SEBI, Stock Exchanges, and Competition Commission of India.

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