TIL Limited has informed the Exchange regarding Outcome of Board Meeting held on February 23, 2026.
TIL · price
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TIL Limited's board, at its meeting on February 23, 2026, approved two major actions. First, a Rights Issue of equity shares to existing shareholders to raise up to Rs. 200 crores, with the issue price, entitlement ratio, and record date to be decided later by a newly formed Rights Issue Committee. Second, the board signed a Share Purchase Agreement to acquire 60% of Tulip Compression Private Limited (TCPL) from Gainwell Commosales Private Limited for a total cash consideration of Rs. 119.01 crores. TCPL operates in the oil and gas equipment space, focusing on CNG, LNG, and hydrogen refueling infrastructure, with a turnover of Rs. 199.4 crores in FY25. The acquisition is a related party transaction done at arm's length and needs shareholder approval at an EGM scheduled for March 14, 2026.
Shareholders may face some dilution from the Rights Issue, but the Rs. 200 crore raise provides funding flexibility for the Rs. 119 crore TCPL acquisition and potentially further growth. The acquisition strategically positions TIL in high-growth clean energy infrastructure (CNG/LNG/hydrogen), leveraging its underutilized manufacturing capacity and complementing existing operations.