Time Technoplast Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
TIMETECHNO · price
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Time Technoplast has filed a statement confirming that there is no deviation or variation in the use of funds raised through its Qualified Institutions Placement (QIP) of Rs. 800 crore, which was completed on November 11, 2025. Of the total amount raised, the company has utilised Rs. 340.03 crore during the quarter ended December 31, 2025. The largest use of funds has been towards repayment/pre-payment of borrowings (Rs. 321.18 crore utilised out of Rs. 400 crore earmarked). Smaller amounts have gone into subsidiary investments (Rs. 3 crore for recycling plants in Time Ecotech), de-odorizing equipment (Rs. 1.78 crore), and QIP issue expenses (Rs. 14.07 crore). CARE Ratings Limited is acting as the monitoring agency for the issue.
This is a routine compliance filing confirming that the company is using its QIP proceeds in line with the disclosed purpose, with no deviation reported. Shareholders can take comfort that the Rs. 800 crore raised is being deployed as planned, primarily to reduce debt, which could support interest cost savings and a healthier balance sheet going forward.