TIL Ltd.'s board of directors has approved fundraising of up to ₹200 crore through the issuance of equity shares on a rights basis to eligible equity shareholders as on the record date. According to reports from CNBC TV18, the company has constituted a Rights Issue Committee and delegated authority to approve all further matters regarding the rights issue. The terms of the rights issue, including record date, payment terms, entitlement ratio, and other details will be determined and disclosed to the exchange in due course.
Shares of TIL declined nearly 3% on Monday, February 23, following the announcement of the rights issue approval. As reported by CNBC TV18, the stock was trading with losses of 1.8% at ₹245.8 during the session. Despite the day's decline, the stock has shown positive momentum with a 18% rise over the last one month period.
TIL's board has also approved the signing of a share purchase agreement with Gainwell Commosales Pvt. Ltd. (GCPL) after informing exchanges of the 60% acquisition of the equity share capital of Tulip Compression Pvt. Ltd. from GCPL on February 13, 2026. According to the company's filing, the acquisition and related agreements are subject to approval of shareholders in the extraordinary general meeting scheduled for March 14, 2026.
