TIL Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on March 14, 2026
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TIL Limited held an Extraordinary General Meeting on March 14, 2026, via video conferencing, with 58 shareholders present. Two special resolutions were tabled: (1) Approval to acquire 60% of the equity share capital (37,90,250 shares of Rs. 10 each) in Tulip Compression Private Limited from Gainwell Commosales Private Limited (a related party) for a total consideration of up to Rs. 119.01 crores; (2) Enhancement of the company's borrowing limit under Section 180(1)(c) from existing levels to up to Rs. 600 crores. The Chairman, Mr. Sunil Kumar Chaturvedi, made a detailed presentation on the rationale, prospects, and opportunities behind the Tulip Compression acquisition and the need for higher borrowing capacity. Remote e-voting was conducted from March 10-13, 2026, and the consolidated scrutinizer's report along with voting results will be declared by March 16, 2026.
If approved, TIL is set to acquire a majority stake in Tulip Compression Pvt Ltd for up to Rs. 119 crores in a related-party transaction, signalling a strategic expansion move. The proposed increase in borrowing limit to Rs. 600 crores suggests the company may be gearing up for higher debt to fund growth initiatives, which shareholders should monitor for impact on leverage and interest costs.