Time Technoplast Limited has received an intimation regarding an inter-se transfer of 10,50,000 equity shares between promoters scheduled for June 22, 2026. Time Securities Services Private Limited will acquire the shares from three individual promoters to consolidate holdings within the group. The aggregate holding of the promoter and promoter group remains unchanged at 47.56% of the paid-up share capital of the company following this transaction.

The transfer falls under the exemptions provided by Regulation 10(1)(a)(ii) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Consequently, the acquirer is not required to make an open offer. The transaction price will not exceed the limits specified in the proviso to Regulation 10(1)(a) of the said regulations.

Shareholding Details

The table below details the proposed acquisition and the resulting changes in shareholding for the acquirer and the sellers. The total shares to be acquired represent 0.21% of the company's share capital.

Promoter Group Holding

The following table outlines the shareholding of the promoter and promoter group before and after the proposed inter-se transfer. The total percentage of holding remains constant at 47.56%.

The acquirer has declared that the transferor and transferee have complied with applicable disclosure requirements under Chapter V of the Takeover Regulations, 2011. The necessary disclosures were submitted to the stock exchanges on June 15, 2026.

Time Technoplast Limited executed a Share Purchase Agreement on June 10, 2026, to acquire a 76% stake in Systoverse Private Limited for a cash consideration of ₹1.52 crore. This strategic move, valued at approximately ₹25 crore including capital expenditure, aims to strengthen the company's High-Density Polyethylene (HDPE) Pipe portfolio and establish an operational presence in Maharashtra. The transaction is expected to close within 30 days from the execution of the agreement.

Acquisition Details

The acquisition will be funded entirely through cash via cheque, NEFT, or RTGS. Post-acquisition, Systoverse Private Limited will become a subsidiary of Time Technoplast Limited, while the remaining 24% stake will continue to be held by existing shareholders. The total projected investment of ₹25 crore encompasses the equity stake acquisition and expenditure towards plant upgradations, modernization, capacity expansion, and capital expenditure for plant and machinery.

Key details of the acquisition are outlined below:

Target Entity Profile

Systoverse Private Limited is a Maharashtra-based company incorporated on January 21, 2022. It is engaged in the manufacturing of ISI-certified HDPE Pipes and Sprinkler Systems under the brand name 'Systo'. The entity operates a plant located at Nardana MIDC, Dhule, with an annual pipe manufacturing capacity of 3,600 Metric Tonnes. The target entity is not a related party of Time Technoplast Limited, and no promoter or promoter group companies hold any interest in it.

Financial Performance

For the financial year ended March 31, 2026, Systoverse Private Limited reported a net worth of ₹2.23 crore and a turnover of ₹1.41 crore. The table below presents the historical turnover of Systoverse:

Strategic Rationale

The acquisition aligns with Time Technoplast Limited's strategy to accelerate inorganic growth and augment capacity in the same line of business. By combining sustainability with innovation, the company aims to offer efficient, durable, and easy-to-handle pipe solutions. This expansion reinforces its commitment to the Government of India's 'Make in India' initiative and strengthens its position within the domestic pipe industry.