TIL Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on March 14, 2026
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TIL Limited has called an Extraordinary General Meeting on Saturday, March 14, 2026, at 11:30 a.m. via video conferencing to seek shareholder approval for two special resolutions. The first resolution is for acquiring a 60% equity stake (37,90,250 shares at Rs. 314 per share) in Tulip Compression Private Limited (TCPL) from related party Gainwell Commosales Private Limited, for a total consideration of about Rs. 119 crore. TCPL operates in CNG, LNG, and hydrogen refueling infrastructure, with FY25 revenue of Rs. 199.4 crore and PAT of Rs. 6.8 crore (up from negative Rs. 2.8 crore in FY20). The second resolution seeks to raise TIL's borrowing limit to Rs. 600 crore under Section 180(1)(c) of the Companies Act. The acquisition is a material related-party transaction at 34.69% of TIL's consolidated turnover, funded through a secured term loan at 12% p.a. for 84 months, with an option to later increase the stake to 74%.
The deal expands TIL into the fast-growing clean-fuel infrastructure space but adds roughly Rs. 119 crore of debt and carries a related-party tag (Chairman & MD Sunil Kumar Chaturvedi has indirect interest via the promoter). Shareholders should weigh the strategic fit and ~7-year payback against the higher leverage before voting.