Time Technoplast Limited (TTL) announced the acquisition of a 76% stake in Systoverse Private Limited (SPL) on June 10, 2026, for an investment of approximately ₹25 Crores. This strategic move aims to bolster TTL’s High-Density Polyethylene (HDPE) Pipe portfolio, accelerate inorganic growth, and establish a stronger operational presence in Maharashtra. The acquisition includes capital expenditure for plant upgradations and capacity expansion.
Strategic Acquisition to Enhance HDPE Pipe Business
Time Technoplast Limited (‘TTL’) has executed a Share Purchase Agreement (‘SPA’) to acquire a 76% equity stake in Systoverse Private Limited (‘SPL’), a Maharashtra-based company. The acquisition, finalized on June 10, 2026, is a key step in TTL’s strategy to strengthen its High-Density Polyethylene (HDPE) Pipe business and accelerate inorganic growth, while simultaneously establishing an operational footprint in Maharashtra.
Investment Details and Synergies
The total projected investment for this acquisition is approximately ₹25 Crores. This amount covers the 76% equity stake purchase and includes expenditure for plant upgradations, modernization, and capacity expansion for plant and machinery. The acquisition aligns with the Government of India’s ‘Make in India’ initiative, aiming to provide efficient and durable pipe solutions to customers and further consolidate TTL’s position in the domestic pipe industry.
Systoverse Private Limited Overview
Systoverse Private Limited, incorporated on January 21, 2022, is engaged in the manufacturing of ISI-certified HDPE Pipes and Sprinkler Systems under the brand name ‘Systo’. For the financial year ended March 31, 2026, SPL reported a net worth of ₹2.23 Crores and a turnover of ₹1.41 Crores. The company possesses a pipe manufacturing capacity of 3,600 Metric Tonnes annually.
Deal Rationale and Future Outlook
The acquisition is characterized as an inorganic expansion in the same line of business to augment capacity and broaden geographic reach. The transaction is expected to be completed within 30 days from the execution of the Share Purchase Agreement, with the consideration to be paid entirely in cash. TTL will hold a 76% stake, making SPL a subsidiary, while the remaining 24% stake will remain with the existing shareholders.
Transaction Details
The cash consideration for the acquisition of 76% of the total paid-up share capital of Systoverse Private Limited amounts to ₹1,52,00,000/- (Rupees One Crore Fifty-Two Lakhs Only). Systoverse Private Limited is not a related party to Time Technoplast Limited, ensuring the transaction is conducted at an arm’s length basis. None of the promoter/promoter group/group companies of TTL have any interest in the entity being acquired.
Source: BSE
