Titan Company Limited has issued a certificate confirming the utilization of proceeds from its commercial paper issuances. For the quarter ended September 30, 2026, the company reported a total issuance of ₹13,750 crore. These funds were used for working capital purposes, aligning with the disclosed objectives and adhering to all listing conditions as per SEBI circulars.
Titan Company Certifies Commercial Paper Compliance
Titan Company Limited has provided a crucial update regarding its commercial paper (CP) issuances, assuring adherence to regulatory guidelines. The company has submitted a certificate confirming the proper utilization of funds raised through CPs and compliance with other listing requirements for the quarter ending September 30, 2026.
Key Financial Highlights
The total value of Commercial Papers issued by Titan Company during the financial year up to the specified quarter amounted to ₹13,750 crore. As detailed in Annexure 1, these issuances were backed by various ISIN codes and had maturity dates extending through November 2026. The primary use of these funds was for Working Capital needs.
Furthermore, the company affirmed that the CPs were issued for purposes detailed in Annexure I, and the proceeds were utilized as disclosed. Titan also confirmed that the asset classification of its fund-based facilities from banks and financial institutions remains ‘Standard’, and there have been no material changes in its financial status that would adversely affect the credit rating of the Commercial Papers.
Adherence to Listing Conditions
Titan Company Limited emphasized its compliance with the other conditions of the offer document and CP issuance directions. The certificate serves to reassure stakeholders and regulatory bodies of the company’s sound financial practices and commitment to transparency in its financial dealings.
Source: BSE
