TIL Rights Issue will open for subscription from 26 April 2024. the company aims for an issue size of ₹49.08 Crores through this rights Issue.
About the company
Established in 1944, TIL Limited designs, manufactures and distributes a comprehensive range of material handling and port equipment. The company has two factories in Eastern India, a mobile crane manufacturing facility in Kamarhatty, Kolkata and an ERP enabled factory in Kharagpur. Both factories are certified according to the international standards for quality management systems ISO 9001:2015 and DIN EN ISO 3834-2.
The company’s product list includes Rough Terrain Cranes, Truck Cranes, Pick and Carry Cranes, Manitowoc Crawler Cranes, Grove Cranes, Reach Stackers, and Forklift Trucks. TIL is headquartered in Kolkata, with regional offices in major cities across India.
Objectives of the Issue
- Funding incremental working capital requirements of the Company;
- General corporate purposes
TIL Rights Issue Timetable
| Last Date to buy shares | 21 March 2024 |
| Record Date | 22 March 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 26 April 2024 |
| Renunciation of Rights Entitlements | 06 May 2024 |
| Bid/Offer Closes On | 10 May 2024 |
| Deemed Date of Allotment | 20 May 2024 |
| Credit Date | 22 May 2024 |
| Listing Date | 24 May 2024 |
TIL Rights Issue Details
| Issue Open | April 26, 2024 – May 10, 2024 |
| Security Name | Til Ltd. |
| Issue Size (Shares) | 49,075,199 |
| Issue Size (Amount) | ₹49.08 Crores |
| Issue Price | ₹10 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | The full amount of the Issue Price being ₹ 10 will be payable on application. |
| Entitlement | 28 Rights Equity Share(s) for every 10 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 341.81 | 354.12 | 381.23 | 497.32 |
| Revenue | 214.86 | 50.53 | 122.24 | 322.75 |
| Profit After Tax | 93.24 | -95.54 | -147.93 | -150.64 |
Rights Issue Documents
Lead Manager(s)
–
Rights Issue Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: til.rights@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Company Contact Information
Til Ltd.
1 Taratolla Road,
Garden Reach,
Kolkata – 700024
Phone: +91 33 6633 2000
Email: secretarial.department@tilindia.com
Website: https://www.tilindia.in/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
