Tilaknagar Industries has received another significant regulatory disclosure under Regulation 29(1) of SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011. TIMF Holdings FDI AC, along with its consortium of persons acting in concert (PAC), has filed the mandatory disclosure following warrant conversion completed on February 12, 2026.

Regulatory Filing and Consortium Details

The disclosure was filed on March 10, 2026, by Citibank N.A. Securities Services on behalf of TIMF Holdings FDI AC and its consortium. The acquiring group comprises TIMF Holdings FDI AC as the primary acquirer, along with Think India Opportunities Master Fund LP, TIMF Holdings, and Think Investments PCC as persons acting in concert.

Warrant Conversion Transaction

The consortium converted warrants into equity shares at a 1:1 ratio, acquiring 60,00,000 shares representing 2.43% of the company's total share capital. The warrants were set to expire on March 28, 2027, but were converted earlier as part of the group's investment strategy.

SEBI Registration and Compliance

The acquiring entities hold valid SEBI registrations, with TIMF Holdings FDI AC registered under IN-MU-FP-0009-14, Think Investments PCC under IN-CY-FP-0461-20, and Think India Opportunities Master Fund LP under IN-MU-FP-0654-22. The disclosure confirms that none of the acquirers belong to the promoter or promoter group of Tilaknagar Industries.

Market Impact and Capital Structure

The warrant conversion represents a significant institutional investment in Tilaknagar Industries, with the TIMF Holdings consortium now holding 6.84% of the company's voting capital. The transaction was executed through the prescribed warrant conversion mechanism, with shares listed on both BSE and NSE exchanges. This acquisition adds to the recent corporate activity in the company, following previous warrant conversions by other institutional investors, indicating growing institutional interest in Tilaknagar Industries' business prospects.

Tilaknagar Industries Ltd. has announced a significant leadership change in its human resources function with the appointment of Ms. Ina Bajwa as Chief People Officer, effective March 09, 2026. The appointment was approved by the Board of Directors through a Circular Resolution based on the recommendation of the Nomination and Remuneration Committee.

Leadership Transition Details

The appointment brings about a strategic reorganization of the company's HR leadership structure. As part of this transition, Mr. Ameya Deshpande will cease to oversee the Human Resources function but will continue to serve as the Chief Strategy Officer.

Professional Background and Expertise

Ms. Ina Bajwa brings 22 years of comprehensive experience in human resources across diverse sectors including retail, e-commerce, technology, banking, consulting, and infrastructure in both Indian and global organizations. Her career highlights include significant leadership roles within the Tata Group, where she served as CHRO of Tata 1mg, Chief Talent Officer at Tata Digital, and held senior HR positions at Tata Communications.

In these roles, she partnered closely with CEOs and CXOs on growth initiatives, transformation projects, and organization effectiveness. Most recently, she served as Group Head of Talent & Engagement for Landmark Group Middle East, where she was responsible for CEO and Executive Succession planning and talent management strategy across 9 retail brands.

Educational Qualifications and Certifications

Ms. Bajwa holds strong academic credentials and professional certifications that complement her extensive experience:

• PGDM in HR from KJ Somaiya Institute of Management & Research
• Bachelor's degree in communications & economics from Panjab University
• Alumni of the Tata Group Strategic Leadership Program at Harvard Business School
• Multiple professional certifications in talent management & assessments
• Executive coaching certifications

Core Competencies

Her expertise encompasses critical areas of human resource management including talent and succession management, leadership development, organization design, performance and rewards systems, workforce planning, culture transformation, and HR digitization. She has demonstrated capability in leading large, multi-cultural teams across different geographical locations.

Regulatory Compliance

The appointment has been disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full compliance with regulatory requirements for senior management appointments.