TIL Rights Issue is scheduled on 26 Apr – 10 May 2024
Incorporated in 1944, TIL offers a comprehensive range of industrial equipment products and solutions, particularly in the crane sector. This includes mobile cranes, rough terrain cranes, reach stackers, and specialized equipment for the Indian defense industry. The company can produce cranes of various sizes and capacities, ranging from 10 metric tons to 100 metric tons.
The company is involved in the design, manufacture, and marketing of a comprehensive range of material handling and port equipment, as well as crushing and screening solutions. It also provides integrated customer support and after-sales service for its products.
The company serves key industries such as material handling, ports, construction and road building, mining, oil and petrochemicals, steel, railways, airports, power, pharmaceuticals, and defense. It operates in India and exports its products to countries in the SAARC region, the Middle East, and Africa. As of 31 December 2023, the company employed over 500 individuals, including contractual workers, who were stationed at the head office, manufacturing facilities, and zonal offices throughout the country.
Promoters of TIL – Sumit Mazumder, Manju Mazumder, and Indocrest Defence Solutions Private Limited
Table of Contents
TIL Rights Issue Details
| TIL Rights Issue Date | 26 Apr – 10 May 2024 |
| TIL Rights Issue Price | INR 10 per share |
| Issue Size (in Shares) | 49,075,199 shares |
| Issue Size (in INR) | INR 49.08 crore |
| Issue Entitlement | 28 equity shares for every 10 equity shares held on the record date |
| Terms of Payment | Fully payable at the time of application |
| TIL Rights Issue Record Date | 22 March 2024 |
| Face Value | INR 10 per share |
| Listing On | BSE, NSE |
TIL Rights Issue Calculation
| TIL Rights Issue Price | INR 10 per share |
| Market Price on Rights Issue Approval | INR 146.38 per share |
| Dilution Factor (X) | 3.8 |
| Fair Value After Dilution at Prevailing Price | INR 45.89 per share |
TIL Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 312.40 | 64.99 | 43.83 |
| Expenses | (374.90) | (482.78) | (137.83) |
| Operating Margin (%) | (10.0) | (184.0) | (125.0) |
| Net income | (67.02) | (416.48) | (88.28) |
| ROCE (%) | (6.0) | (31.0) | (35.0) |
TIL Rights Issue Objectives
The net proceeds from the offer are proposed to be used for
- Funding incremental working capital requirements of the company – INR 37.50 crore
- General corporate purposes – INR 9.30 crore
TIL Rights Offer Documents
TIL Rights Issue Dates
| Rights Issue Approval Date | 18 March 2024 |
| TIL Rights Issue Record Date | 22 March 2024 |
| Credit of Rights Entitlement | – |
| Rights Issue Opening Date | 26 April 2024 |
| Last Date for Market Renunciation | 6 May 2024 |
| Rights Issue Closing Date | 10 May 2024 |
| Finalization of Basis of Allotment | 17 May 2024 |
| TIL Rights Allotment Date | 20 May 2024 |
| Credit Date | 22 May 2024 |
| Listing Date | 24 May 2024 |
TIL Rights Issue Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 810 811 4949
Email:Â [email protected]
Website:Â www.linkintime.co.in
TIL Contact Details
TIL LIMITED
1, Taratolla Road, Garden Reach,
Kolkata 700 024, West Bengal, India
Phone:Â +91 33 2469 3732 -36
Email:Â [email protected]
Website: www.tilindia.com
TIL Rights Offer FAQs
What is the TIL Rights Issue Price?
The issue price is INR 10 per share.
What is the TIL Rights Issue entitlement ratio?
The eligible shareholders are offered 28 Equity Shares for every 10 Equity Shares held on the record date.
What is the TIL Rights Issue Record Date?
The Record date is 22 March 2024.
How to Apply in TIL Rights Offer?
The best way to apply in TIL Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
