Titan Company Redeems ₹1000 Crore Commercial Papers and Seeks Shareholder Approval for Key Director Appointments

Titan Company Limited , a leading player in the Indian consumer goods sector, has recently made two significant announcements: the redemption of Commercial Papers worth ₹1000 crore and the initiation of a postal ballot process for key director appointments.

Redemption of Commercial Papers

Titan Company Limited has fully redeemed Commercial Papers worth ₹1000 crore with ISIN INE280A14468. The company informed BSE about the completion of the redemption process through a regulatory communication signed by General Counsel & Company Secretary Dinesh Shetty.

Postal Ballot for Director Appointments

In addition to the financial update, Titan Company has initiated a postal ballot process to seek shareholder approval for two significant director appointments. The company, known for its watches, jewelry, and eyewear businesses, is looking to strengthen its board with these strategic moves.

Re-appointment of Independent Director

The first proposal on the ballot is the re-appointment of Mr. Sandeep Singhal as an Independent Director for a second term. Mr. Singhal, who has been serving on Titan's board since November 11, 2020, is being considered for another five-year term. This re-appointment requires approval through a special resolution.

Mr. Singhal, aged 59, brings a wealth of experience to Titan's board. He is the co-founder of Nexus Venture Partners and has a strong background in business strategy, mergers and acquisitions, governance, risk management, and technological expertise. His qualifications include:

MBA from The Wharton School with majors in Finance and Marketing
BS in Electrical Engineering from Stanford University

Appointment of Non-Executive Director

The second item on the ballot is the appointment of Mr. Puneet Chhatwal as a Non-Executive Director. Mr. Chhatwal, aged 61, was appointed as an Additional Director following the resignation of Mr. P B Balaji. Shareholders are now being asked to confirm his appointment through an ordinary resolution.

Mr. Chhatwal is currently the Managing Director and CEO of Indian Hotels Company Limited (IHCL) and brings extensive experience in the hospitality sector. His expertise spans:

Finance
Strategy
Business leadership
Sales & marketing
Digital & information technology

Mr. Chhatwal holds an MBA in Hospitality from ESSEC, Paris, and has completed an Advanced Management Program from INSEAD.

Voting Process and Timeline

Titan Company has engaged the services of National Securities Depository Limited (NSDL) to provide remote e-voting facilities to its shareholders.

Key dates for shareholders to note:

Event	Date
Cut-off date for voting eligibility	September 12
E-voting start date	September 23 (9:00 AM IST)
E-voting end date	October 22 (5:00 PM IST)
Declaration of results	On or before October 24

The company has appointed Mr. V Sreedharan or, in his absence, Mr. Pradeep B. Kulkarni of M/s. V. Sreedharan & Associates, Practicing Company Secretaries, as the Scrutinizer for conducting the postal ballot process.

Titan Company's move to strengthen its board comes at a time when the retail and consumer goods sectors are witnessing rapid changes and digital transformation. The proposed appointments are expected to bring fresh perspectives and valuable expertise to guide the company's future strategies and growth initiatives.

Shareholders are encouraged to participate in the voting process and make their voices heard in these important corporate governance decisions.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.67%	+0.07%	+9.96%	+11.00%	+13.91%	+203.60%

Titan Company , a leading player in India's jewelry and watch market, witnessed significant block trades on the National Stock Exchange (NSE) recently. Two separate transactions, with a combined value of approximately Rs. 125.00 crore, involved a total of about 360,187 shares of the company.

Block Trade Details

The first block trade, valued at Rs. 71.21 crore, involved approximately 205,138 shares and was executed at a price of Rs. 3,471.20 per share.

A second block trade, worth Rs. 53.78 crore, involved about 155,049 shares at a price of Rs. 3,468.70 per share.

These substantial transactions underscore the continued interest in Titan's stock among institutional investors and large traders.

Market Implications

Block trades of this magnitude often attract attention in the financial markets as they can indicate shifts in institutional holdings or strategic moves by large investors. While the identities of the buyers and sellers in these transactions remain undisclosed, such trades can sometimes influence market sentiment and trading patterns in the short term.

About Titan Company

Titan Company, part of the Tata Group, is renowned for its diverse portfolio of lifestyle products. The company has established a strong presence in the Indian market through its various brands, including:

Tanishq in jewelry
Titan in watches
Fastrack in the youth accessories segment

The execution of these block trades reflects the liquidity and market depth of Titan Company's stock on the NSE. It also demonstrates the company's position as a significant player in the Indian equity market, particularly within the consumer goods sector.

Investors and market analysts will likely keep a close eye on Titan Company's stock performance and any potential disclosures related to changes in substantial shareholdings that may follow these block trades.