Madhusudan Kela-led Singularity Equity Fund I has acquired a significant stake in TIL through a bulk deal worth ₹11.78 crore. According to data from Trendlyne, the PMS fund purchased 5.27 lakh shares of the material handling equipment maker at an average price of ₹223.72 per share. The transaction represents a strategic investment by the fund managed by ace investor Madhusudan Kela and mentored by Singularity AMC.
The bulk deal was executed at a price nearly 15% lower than TIL's closing price of ₹262.48 per share on Wednesday, as reported by The Economic Times. This discounted pricing strategy suggests the fund's confidence in the company's long-term prospects despite the current market valuation. The transaction involved over 5 lakh shares of the Kolkata-based construction equipment maker, demonstrating the fund's substantial commitment to the material handling equipment sector.
TIL witnessed multiple block deals during the trading session, with Mahan Eximp selling 4.36 lakh shares for more than ₹9 crore at ₹216.18 per share, while Salgurn Merchants sold 10.98 lakh shares at ₹215.82 per share in a transaction valued at nearly ₹24 crore, according to The Economic Times. These transactions indicate strong institutional interest in the material handling equipment manufacturer.
TIL operates in the material handling equipment sector and also manufactures custom-made and application-specific defence equipment, as reported by The Economic Times. The company underwent a significant transformation in 2024 when Gainwell Group, India dealer of Caterpillar heavy equipment, acquired TIL and infused ₹120 crore into the Kolkata-based construction equipment maker. This investment included ₹70 crore for subscribing a preferential issue of equity shares, with Gainwell planning to invest ₹1,000 crore over the next three years with an aim to become a $1-billion company by 2028.
