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More news about Tirupati Tyres
16Jul 25
Tirupati Tyres Unveils Plans for ₹990 Crore Qualified Institutional Placement
Tirupati Tyres Limited (TTL) has announced plans to raise up to ₹990 crore through a Qualified Institutional Placement (QIP). The Board of Directors approved the fundraising effort, which will involve issuing equity shares to qualified institutional buyers. The QIP will be implemented in one or more tranches. Additional board decisions include appointing a merchant banker, conducting a postal ballot for shareholder approval, setting July 18, 2025, as the cut-off date for the ballot, forming a QIP Committee, and appointing a scrutinizer for the postal ballot process. The company emphasizes that the fundraising will comply with relevant laws and regulations.