₹49.08 Crores | Listing at BSE, NSE | Fri, Apr 26, 2024 - Fri, May 10, 2024
Til Ltd. Rights Issue comprises 4.91 Cr equity shares aggregating to ₹49.08 Cr, offered at an issue price of ₹10 per share with a face value of ₹10 per share.
The record date for determining eligible shareholder is Mar 22, 2024, with the Rights Issue being offered in the entitlement ratio of 28 : 10.
The term of payment is defined as following : The full amount of the Issue Price being ₹ 10 will be payable on application.
The Rights Entitlements are expected to be credited to eligible demat accounts on [.]
The Rights Issue opens on Apr 26, 2024, and closes on May 10, 2024, with renunciation of Rights Entitlements permitted up to May 6, 2024.
The deemed date of allotment is May 20, 2024, following which the equity shares are expected to be credited to demat accounts on May 22, 2024 and listed at the NSE and the BSE on May 24, 2024.
MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the Til Ltd. Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.
Record Date
Fri, Mar 22, 2024
Entitlement Ratio
28 : 10
Open Date
Fri, Apr 26, 2024
Close Date
Fri, May 10, 2024
The full amount of the Issue Price being ₹ 10 will be payable on application.
Til Ltd.'s revenue decreased by -58.66% and profit after tax (PAT) rose by 35.42% between the financial year ending with March 31, 2023 and March 31, 2022.
| 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 |
| Amount in ₹ Crore | ||||
Established in 1944, TIL Limited designs, manufactures and distributes a comprehensive range of material handling and port equipments.
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.
The company intends to utilize the gross proceeds raised through the Issue for the following objects:
[Dilip Davda] No company has issued shares below par value and this company which had a name and fame few years back suffered a setback. Now it is trying to be on track with diversified product portfolio and an order worth Rs. 240 cr. on hands as of December 31, 2023. Over two and half fold increase in its post RI equity base, it may take long time for servicing. Based on its recent financial performance the issue appears a risky bet even at par value, but considering its current market price and future prospects, well-informed investors may park funds for the long term rewards. Read detail review...
TIL Rights Issue 2024 got oversubscribed by 2.15 times by the end of the bidding period with total bid quantity received by BSE and NSE of 10,56,18,369 shares. Check Day by Day Subscription Details (Live Status)
| Date | BSE Bid Quantity | NSE Bid Quantity | Total Bid Quantity | Subscription Times |
|---|---|---|---|---|
May 10 2024 16:50:00 | 9,27,89,925 | 1,28,28,444 | 10,56,18,369 | 2.15x |
Til Ltd.
1 Taratolla Road,
Garden Reach,
Kolkata - 700024
Kolkata, West Bengal, 700024
The TIL Rights Issue 2024 opens on Fri, Apr 26, 2024, and closes on Fri, May 10, 2024.
TIL Rights Issue 2024 Schedule
| Last Date for credit of Rights Entitlements | |
| Last Date for renunciation of Rights Entitlements | Mon, May 6, 2024 |
| Issue Opening Date | Fri, Apr 26, 2024 |
| Issue Closing Date | Fri, May 10, 2024 |
| Date of Allotment (on or about) | Mon, May 20, 2024 |
| Date of Credit (on or about) | Wed, May 22, 2024 |
| Date of Listing (on or about) | Fri, May 24, 2024 |
You can apply for TIL Rights Issue 2024 in two ways:
Steps to apply for TIL Rights Issue 2024 using Net Banking (ASBA)
Steps to apply for TIL Rights Issue 2024 using Registrar's website (R-WAP)
