TIL Limited Publishes Rights Issue Advertisement and Completes Letter of Offer Dispatch

TIL Limited has published newspaper advertisements on March 26, 2026, announcing the completion of dispatch for its Letter of Offer and compliance with SEBI regulations for its upcoming rights issue. The company has fulfilled its regulatory obligations under Regulation 84 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Rights Issue Details

The company is conducting a comprehensive rights issue with the following key parameters:

Parameter: Details Issue Size: Up to 1,20,91,760 partly paid-up equity shares Face Value: ₹10 each Issue Price: ₹165.00 per share (including premium of ₹155.00) Total Amount: Up to ₹19,951.40 lakhs Rights Ratio: 11 shares for every 64 fully paid-up equity shares Record Date: March 23, 2026

Issue Timeline and Process

The rights issue follows a structured timeline for eligible equity shareholders:

Event: Date Issue Opens: Monday, March 30, 2026 Last Date for On-Market Renunciation: Wednesday, April 1, 2026 Issue Closes: Wednesday, April 8, 2026

The company has completed the dispatch of issue materials including the Application Form, Letter of Offer dated March 20, 2026, and Rights Entitlement letter on March 24, 2026. Eligible shareholders who provided valid email addresses received materials electronically, while others received physical dispatch to their registered Indian addresses.

Newspaper Publication Compliance

TIL Limited published advertisements in three newspapers to ensure wide circulation and regulatory compliance:

Financial Express (English national daily newspaper with wide circulation, all editions)

Jansatta (Hindi national daily newspaper with wide circulation)

Dainik Statesman – Kolkata edition (Bengali language daily newspaper, regional language of Kolkata where the registered office is situated)

Application Process and Requirements

All investors must use the ASBA (Applications Supported by Blocked Amount) process mandatorily for applications in this issue. The rights entitlements will be credited to eligible shareholders' demat accounts under ISIN: INE806C20026 and will be tradable on stock exchanges subject to requisite approvals.

Specific Investors and Regulatory Framework

The issue is being undertaken in accordance with Regulation 86(1) of the SEBI ICDR Regulations. The company may allot any undersubscribed portion to specific investors:

Sr. No.: Specific Investor 1 Singularity Equity Fund - I 2 Singularity Growth Opportunities Fund - II

The existing equity shares are listed and traded on BSE (Scrip Code: 505196) and NSE (Symbol: TIL) under ISIN: INE806C01018. MUFG Intime India Private Limited serves as the Registrar to the Issue, while Axis Bank Limited acts as both the Allotment Account Bank and Banker to the Issue.

Eligible equity shareholders holding shares in physical form must furnish demat account details at least two working days prior to the issue closing date to participate in the rights issue, as all allotments will be made in dematerialized form only.

TIL Limited has finalized the complete timeline for its ₹199.51 crore rights issue following two consecutive Rights Issue Committee meetings. After initially meeting on March 16, 2026, to approve key parameters, the committee reconvened on March 20, 2026, to establish the comprehensive schedule for the equity share issuance.

Rights Issue Structure and Pricing

The Rights Issue Committee has established detailed parameters for the equity share issuance under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company will issue partly paid-up equity shares with specific payment terms requiring 75% of the issue price on application.

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

Complete Rights Issue Timeline

The Rights Issue Committee meeting held on March 20, 2026, from 10:00 p.m. to 10:25 p.m., approved the comprehensive schedule for the rights issue process. The timeline provides clear dates for various stages of the rights entitlement and application process.

Event: Date Rights Issue Opening Date: Monday, March 30, 2026 Last Date for On Market Renunciation: Wednesday, April 1, 2026 Off-Market Transfer Closure: Tuesday, April 7, 2026 Rights Issue Closing Date: Wednesday, April 8, 2026

Stock Exchange Approvals and ISIN Details

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 entitlements will be credited to eligible shareholders' demat accounts under the new ISIN INE806C20026 before the issue opening date.

Rights Entitlement Process

Eligible equity shareholders as on the record date of March 23, 2026, will receive their rights entitlements credited to their demat accounts under the new ISIN before March 30, 2026. The rights entitlement follows the ratio of 11 new shares for every 64 existing shares held by eligible shareholders, with all terms detailed in the Letter of Offer.

Regulatory Compliance

The committee meeting outcomes have been communicated to stock exchanges pursuant to SEBI regulations and circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. TIL Limited operates from its registered office at 1, Taratolla Road, Garden Reach, Kolkata-700 024, with Company Secretary Chandrani Chatterjee handling regulatory communications.

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