TIL board approves fund raise of up to ₹200 crore via rights issue; Stock declines 3%

Shares of TIL Ltd. declined nearly 3% on Monday, February 23, after the company said its board has approved fundraising via the issue of equity shares on a rights basis.

The company's board of directors has given its nod for the raising of funds of up to ₹200 crore via issuance of equity shares on a rights basis to eligible equity shareholders of the firm as on the record date.

Terms of the rights issue, including record date, terms of payment, entitlement ratio, and other details, will be determined and disclosed to the exchange in due course, according to TIL's filing.

A Rights Issue Committee has been constituted by the company's board and that committee has been delegated the authority inter-alia to approve all further matters regarding the rights issue, TIL said.

TIL also said its board has approved the signing of a share purchase agreement with Gainwell Commosales Pvt. Ltd. (GCPL), after it informed the exchanges of the 60% acquisition of the equity share capital of Tulip Compression Pvt. Ltd. from GCPL on February 13, 2026.

The acquisition and the related agreements are subject to approval of shareholders in the extraordinary general meeting scheduled for March 14, 2026, TIL said.

Shares of TIL are looking to recover from the lows of the day, currently trading with losses of 1.8% at ₹245.8. The stock has risen 18% in the last one month.

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