TIL Global Executes Rights Issue, Increasing Promoter Holding in TIL Ltd
TIL Global Private Limited, a promoter group entity, has completed a rights issue of shares in TIL Limited. The acquisition resulted in a significant increase in TIL Global’s shareholding, solidifying its stake in the target company, TIL Limited.The transaction, executed via a rights issue, saw TIL Global acquire shares in TIL Limited, which is listed on the BSE Limited and National Stock Exchange of India Limited.
TIL Global Private Limited previously held 4,93,27,433 shares in TIL Limited, representing a 70.12% stake. Through the rights issue, the company acquired an additional 12,09,176 shares, representing 1.14% of the total share capital.
The financial details of the transaction show the following changes in shareholding and capital structure:
| Metric | Before Acquisition | Transaction Details | After Acquisition |
|---|---|---|---|
| Shares Held | 4,93,27,433 | Acquisition of 12,09,176 shares | 5,05,36,609 shares |
| Holding Percentage | 70.12% | Rights Issue | 63.25% |
| Total Voting Capital (INR) | INR 70,35,20,560 | INR 79,42,08,760 | |
| Total Diluted Share/Voting Capital (INR) | INR 82,44,38,160 | INR 82,44,38,160 |
The transaction involved the acquisition of shares carrying voting rights, with the mode of acquisition noted as a rights issue. The share capital of TIL Limited saw an increase from INR 70,35,20,560 to INR 79,42,08,760, comprising 7,94,20,876 equity shares of face value of INR 10/- each.
TIL Global Private Limited, formerly known as Indocrest Defence Solutions Private Limited, remains a promoter group member, increasing its overall effective holding in TIL Ltd.
TIL Stock Price Movement
As of 10:27 AM, shares of TIL Limited are shedding 0.65% in live trading, currently hovering at ₹210.87. The stock is seeing active trading, having processed a total volume of 41,283 shares thus far.Source:
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