TIME TECHNOPLAST LIMITED has announced an inter-se transfer of shares among its promoters, involving a total of 10,50,000 equity shares. This transaction, occurring on June 22, 2026, is within the promoter group and does not alter the aggregate holding of 47.56% of the paid-up share capital. The disclosure is made in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Inter-se Promoter Share Transfer Announced
TIME TECHNOPLAST LIMITED has formally disclosed an inter-se transfer of shares amongst its promoters. This significant transaction, scheduled for June 22, 2026, involves a total of 10,50,000 equity shares being transferred. The company has submitted the necessary disclosures under Regulation 10(5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, to the stock exchanges.
Key Transaction Details
The transfer is structured with multiple parties involved. The acquirer is TIME SECURITIES SERVICES PRIVATE LIMITED. The shares are being acquired from individual promoters:
- From Mr. Naveen Kumar Jain: 2,00,000 equity shares
- From Mr. Raghupathy Thyagarajan: 4,00,000 equity shares
- From Mr. Vishal Anil Jain: 4,50,000 equity shares
The total value of the shares to be acquired is 10,50,000 equity shares, representing 0.21% of the total share capital of Time Technoplast Limited.
Regulatory Compliance and Rationale
This transaction falls under the exemption provided by Regulation 10(1)(a)(ii) of the SEBI (SAST) Regulations, 2011, as it is an inter-se transfer among promoters. A crucial aspect of this disclosure is that the aggregate holding of the Promoter and Promoter Group remains unchanged at 47.56% of the company’s paid-up share capital, both before and after the transaction. The stated rationale for this transfer is Consolidation of Holdings within the promoter group.
Shareholding Before and After
The shareholding details provided highlight the changes for both the acquirer and sellers:
Before the proposed transaction:
- Total Promoter & Promoter Group Holding: 47.56%
- Acquirers (other than sellers) held 40.56%
- Sellers held 3.83%
After the proposed transaction:
- Total Promoter & Promoter Group Holding: 47.56%
- Acquirers (including the shares from this transaction) will hold 40.77%
- Sellers’ holding will decrease to 3.57%
Specific details for entities like TIME SECURITIES SERVICES PRIVATE LIMITED show an increase from 17.16% to 17.37%. For sellers, Mr. Naveen Kumar Jain’s holding reduces from 1.82% to 1.78%, Mr. Raghupathy Thyagarajan’s from 1.84% to 1.76%, and Mr. Vishal Anil Jain’s from 0.12% to 0.03%.
Declarations and Compliance
Declarations have been made by the acquirer affirming that the acquisition price will not exceed the prescribed limits and that all applicable disclosure requirements under the Takeover Regulations, 2011, have been complied with for the past three years. Furthermore, all conditions related to exemptions under Regulation 10(1)(a) have been duly met.
Source: BSE
