Time Technoplast Limited has made a regulatory disclosure to the National Stock Exchange of India Ltd. and BSE Limited regarding a proposed inter-se transfer of equity shares among its promoters.

Nature of the Event

The disclosure concerns an inter-se transfer of shares between promoters of the company, which falls under the exemptions provided by Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This type of transaction is exempt from the requirement to make an open offer.

Transaction Details

The transfer involves the acquisition of 10,50,000 equity shares by Time Securities Services Private Limited from three individual promoter sellers. The specific breakdown is:

  • 2,00,000 shares from Mr. Naveen Kumar Jain
  • 4,00,000 shares from Mr. Raghupathy Thyagarajan
  • 4,50,000 shares from Mr. Vishal Anil Jain

The proposed date of acquisition is June 22, 2026, or any day thereafter.

Pricing Mechanism

The equity shares will be acquired at a price not exceeding the limits provided in proviso (i) to Regulation 10(1)(a) of the SEBI Takeover Regulations, 2011. The acquirer has declared that the acquisition price will not be higher by more than 25% of the volume weighted average market price for the 60 trading days preceding the date of this notice.

Purpose of Transaction

The stated purpose of the transaction is "Inter se transfer of Equity Shares among Promoters – Consolidation of Holdings."

Shareholding Impact

The aggregate holding of the promoter and promoter group before and after this inter-se transfer remains unchanged at 47.56% of the paid-up equity share capital of the company.

Detailed Shareholding Changes (Pre and Post Transaction)

Acquirer and PACs (other than sellers):

  • Time Securities Services Private Limited: From 8,46,92,772 shares (17.16%) to 9,57,42,772 shares (19.40%)
  • Vishwalaxini Trading and Finance Private Limited: 7,02,01,018 shares (14.22%) - unchanged
  • Time Exports Private Limited: 4,47,61,719 shares (9.07%) - unchanged
  • Ritu Jain: 71,32,500 shares (1.44%) - unchanged
  • Bharat Kumar Vageria: 91,29,500 shares (1.85%) - unchanged
  • Aruna Bharat Vageria: 2,00,000 shares (0.04%) - unchanged

Sellers:

  • Mr. Naveen Kumar Jain: From 90,77,500 shares (1.84%) to 70,77,500 shares (1.43%)
  • Mr. Raghupathy Thyagarajan: From 5,99,880 shares (0.12%) to 1,99,880 shares (0.04%)
  • Mr. Vishal Anil Jain: From 5,50,000 shares (1.11%) to 1,00,000 shares (0.20%)