Time Technoplast Limited has informed the Exchange regarding Board meeting held on October 25, 2024.We wish to inform you that the Board of Directors of Time Technoplast Limited at its meeting held today i.e. on October 25, 2024, inter-alia, considered and approved the following businesses:1. Raising of funds through Qualified Institutions Placement ( QIP ) for an amount not exceeding ₹1,000 Crores in terms of the SEBI ICDR Regulations, 2018 and/or any other permissible mode(s), subject to necessary approvals including the approval of the members of the Company and such other regulatory/statutory approvals as may be required;The Company shall utilise proceeds of QIP (after adjustment of expenses related to the QIP, if any) ( Net Proceeds ) in India and Overseas including subsidiaries for the following purposes, or a combination thereof: i. Partial or full repayment and/or pre-payment of short term and/or long-term debt.ii. Capital investments for the expansion of both greenfield and brownfield projects focused on value-added products such as Intermediate Bulk Containers (IBCs), Composite Products includes CNG, LPG and Hydrogen Cylinders/Cascades.iii. Capital expenses for automation, reengineering/modifications of the moulds, machineries and Equipment for reduction in recurring cost and to improve margins.iv. Funding the organic and inorganic growth in the area of its operations.v. Meeting the working capital requirements of the Company (on consolidated basis).vi. General Corporate purpose.2. Considered and approved Notice of Postal Ballot to seek member s approval for fund raising. | Download

TIME TECHNOPLAST LIMITED has informed the Exchange about Board Meeting to be held on 25-Oct-2024 to consider Fund raising. | Download