Time Technoplast (TTL) has executed a share purchase agreement on June 10, 2026, to acquire a 76% equity stake in Maharashtra-based Systoverse for a cash consideration of ₹1.52 crore. According to reports from Business Standard, the deal is expected to close within 30 days of execution, with Systoverse becoming a subsidiary of TTL while the remaining 24% stake will continue to be held by existing shareholders. As per latest market reports, the transaction was executed at ₹490 per share, representing a discount of around 2% to the stock's previous closing price.
The total projected investment for the transaction is approximately ₹25 crore, which includes the acquisition cost along with planned expenditure towards plant upgradation, modernization, capacity expansion, and capital expenditure on plant and machinery. As reported by Business Standard, the transaction will be funded through cash consideration via cheque, NEFT, or RTGS. The acquisition aligns with TTL's strategy to strengthen its HDPE pipe portfolio and expand operational presence in Maharashtra.
Incorporated on January 21, 2022, Systoverse is engaged in the manufacture of ISI-certified HDPE pipes and sprinkler systems under the brand name Systo. According to Business Standard, the company operates a manufacturing facility at Nardana Industrial Area (Phase-II), MIDC Nardana, Dhule, Maharashtra, with an installed capacity of 3,600 metric tonnes per annum. For the financial year ended March 31, 2026, Systoverse reported a turnover of ₹1.41 crore and net worth of ₹2.23 crore.
The acquisition supports TTL's focus on delivering efficient and sustainable piping solutions under the Government of India's Make in India initiative. As reported by Business Standard, Time Technoplast has reported a 20.4% rise in consolidated net profit to ₹131.84 crore on a 14.2% increase in revenue from operations to ₹1,676.67 crore in Q4 FY26 over Q4 FY25. The company's stock fell 1.21% to ₹166.80 on the BSE following the announcement.
