Time Securities Services Private Limited has submitted a disclosure regarding an inter-se transfer of shares among the promoters of Time Technoplast Limited. This transaction, totaling up to 10,50,000 equity shares, is exempt from an open offer under SEBI regulations. The transfer is aimed at the consolidation of holdings among promoters, with the aggregate holding of the promoter group remaining constant at 47.56% of the paid-up equity share capital.
Disclosure of Inter-Se Share Transfer Among Promoters
Time Securities Services Private Limited has formally disclosed an inter-se transfer of equity shares involving the promoters of Time Technoplast Limited. This announcement complies with Regulation 10(5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The proposed transaction involves the acquisition of up to 10,50,000 equity shares.
Transaction Details
The specific details of the proposed acquisition are as follows:
- Date of Transaction: 22nd June, 2026
- Persons from whom shares are acquired: Mr. Naveen Kumar Jain, Mr. Raghupathy Thyagarajan, and Mr. Vishal Anil Jain.
- Number of Shares to be Acquired:
- From Mr. Naveen Kumar Jain: 2,00,000 equity shares
- From Mr. Raghupathy Thyagarajan: 4,00,000 equity shares
- From Mr. Vishal Anil Jain: Up to 4,50,000 equity shares
Rationale and Regulatory Exemption
The primary rationale for this proposed transfer is the consolidation of holdings among the promoters of Time Technoplast Limited. This inter-se transfer falls under the exemption provided by Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, thus obviating the need for an open offer. The aggregate holding of the promoter and promoter group before and after this transfer is expected to remain unchanged at 47.56% of the company’s paid-up equity share capital.
Shareholding Details
The shareholding details before and after the proposed transaction indicate a shift in individual promoter holdings but a stable aggregate promoter group stake:
| Category | Details | Before Proposed Transaction | After Proposed Transaction |
|---|---|---|---|
| No. of Shares / Voting Rights (% w.r.t total share capital of TC) | No. of Shares / Voting Rights (% w.r.t total share capital of TC) | ||
| Acquirer(s) and PACs (other than sellers) | 1. Time Securities Services Private Limited (Acquirer) | 8,46,92,772 (17.16%) | 8,57,42,772 (17.37%) |
| 2. Vishwalaxmi Trading and Finance Private Limited | 7,02,01,018 (14.22%) | 7,02,01,018 (14.22%) | |
| 3. Time Exports Private Limited | 4,47,64,938 (9.07%) | 4,47,64,938 (9.07%) | |
| 4. Ritu Jain | 71,32,500 (1.44%) | 71,32,500 (1.44%) | |
| 5. Bharat Kumar Vageria | 91,29,500 (1.85%) | 91,29,500 (1.85%) | |
| 6. Aruna Bharat Vageria | 2,00,000 (0.04%) | 2,00,000 (0.04%) | |
| Seller(s) | 1. Mr. Naveen Kumar Jain | 89,97,500 (1.82%) | 87,97,500 (1.78%) |
| 2. Mr. Raghupathy Thyagarajan | 90,77,500 (1.84%) | 86,77,500 (1.76%) | |
| 3. Mr. Vishal Anil Jain | 5,99,880 (0.12%) | 1,49,880 (0.03%) | |
| TOTAL | 23,47,95,608 (47.56%) | 23,47,95,608 (47.56%) | |
The declaration by the acquirer confirms compliance with all relevant regulations and conditions for this exemption, ensuring a smooth and compliant transfer of shares.
Source: BSE
