Tijaria polypipes Limited has disclosed a significant increase in promoter shareholding through open market acquisitions. Vardhman Jain Tijaria, a member of the promoter group, has substantially increased his stake in the company during February and March 2026.

Share Acquisition Details

The promoter acquired 2,20,889 shares through open market purchases, representing 0.7716% of the company's total share capital. This acquisition demonstrates the promoter's continued confidence in the company's growth prospects and strategic direction.

Regulatory Compliance

The disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, ensuring full transparency with market participants. The company is listed on both the Bombay Stock Exchange Limited and National Stock Exchange of India Limited.

Transaction Summary

The acquisition was completed entirely through open market transactions during February and March 2026. The promoter's increased stake reflects a strategic investment decision, with the total equity share capital of the company remaining unchanged at 28,62,65,790 shares.

This promoter stake increase signals positive sentiment from the company's leadership and demonstrates their commitment to the business. The transaction maintains the company's existing share capital structure while strengthening promoter participation in the equity base.

Tijaria Polypipes Limited has submitted a comprehensive One Time Settlement (OTS) proposal to Bank of India for Rs 53.67 crore to resolve all outstanding liabilities. The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating its commitment to achieving an honorable resolution with its banking partner since 2003.

Settlement Proposal Details

The OTS proposal follows discussions held with Bank of India's senior management on March 13, 2026, at the bank's head office in Mumbai. During these negotiations, the bank expressed interest in considering the Rs 53.67 crore settlement amount for full and final closure of the account.

Financial Commitments and Investor Support

Tijaria Polypipes has demonstrated its bona fide intent by already placing Rs 12.00 crore with the bank, deposited in two tranches of Rs 7.00 crore on September 10, 2024, and Rs 5.00 crore on February 18, 2025. Additionally, the company has made an upfront payment of Rs 5.37 crore through demand drafts, bringing the total immediate commitment to Rs 17.37 crore.

The company has secured investor support for the settlement, contingent upon Bank of India's acceptance of the OTS proposal by April 15, 2026. The proposal emphasizes that failure to receive approval by this deadline will render the Rs 53.67 crore offer void.

Asset Assessment and Commercial Rationale

The company's submission highlights that its primary security, the Sitapura Plant & Machinery, has remained non-operational for over four years. Due to technological obsolescence in the specialized pipe and yarn manufacturing equipment, Tijaria Polypipes argues that the Net Present Value of an immediate cash settlement significantly exceeds the uncertain and depreciating value of physical assets.

The proposal also addresses Rs 9.52 crore in Funded Interest Term Loans (FITL), representing capitalized interest during the operational shutdown period. The company seeks waiver of this component to enable a sustainable settlement of the core principal amount.

Additional Requests and Conditions

Alongside the financial settlement, Tijaria Polypipes has requested several operational facilitations:

• Full clearance of ROC charges on previously sold VKI property
• Release of property documents for Daulatpura land with ROC charge clearance
• Permission for share right issue, preferential shares, or debentures issuance
• Opening of two active current accounts for settlement proceeds and fundraising activities

The company has also requested a 90-day interest-free period, with minimum interest charges applicable from the 91st to 180th day for any delayed payments.

Legal Framework and Litigation Withdrawal

The OTS proposal operates within the framework of directions from the Rajasthan High Court and RBI's June 2023 guidelines. Upon acceptance, Tijaria Polypipes commits to immediately filing joint compromise applications to withdraw all pending litigations, facilitating a comprehensive resolution of disputes.

The company emphasized its track record of having repaid Rs 101.54 crore to Bank of India over their long-standing relationship, positioning this settlement as a commercially sound resolution for both parties.