TT Limited Stock Price up by More than 2% Today After Company's Board Approves Rs 40 Crore Rights Issue
By Shishta Dutta | Published at: Jun 27, 2025 11:19 AM IST
New Delhi, June 27 – Shares of TT Limited (NSE: TTL, BSE: 514142) rose by 2.55% (₹15.70 per share) at 10:45 AM on 27 June after the Rights Issue Committee approved key offer documents for the upcoming rights issue. The rights issue’s attractive pricing (₹12 per share) has triggered positive sentiments, making the shares more appealing to existing investors. The issue will raise ₹40 crore, which will further help the positive investor sentiments due to expected capital infusion and operational support.
With the rights issue in sight, the market expects operational strengthening and better liquidity management.
Rights Issue: ₹4,000 Lakh Capital Raise at ₹12 Per Share
The company has received board and regulatory approvals to raise to ₹4,000 lakh via a rights issue of 3,33,30,444 equity shares at a price of ₹12 per share, including a ₹1 face value and ₹11 share premium. The issue is priced at a substantial 24.5% discount to Thursday’s closing price of ₹15.90.
| Particulars | Details |
|---|---|
| Face Value per Share | ₹1 |
| Issue Price | ₹12 |
| Rights Entitlement Ratio | 4 shares for every 27 held |
| Issue Size | ₹4,000 lakh |
| Record Date | July 4, 2025 |
| Issue Opens | July 17, 2025 |
| Issue Closes | July 31, 2025 |
| Shares Outstanding (Pre-Issue) | 22,49,80,500 |
| Shares Outstanding (Post-Issue) | 25,83,10,944 (assuming full subscription) |
Regulatory Compliance: The issue falls under SEBI (LODR) Regulation 30. The committee has approved the Letter of Offer (LOF), Abridged LOF, Application Form, and Rights Entitlement Letter.
Market Activity and Technical Snapshot
TT Limited opened at ₹15.40 on Friday and touched a high of ₹16.07, just shy of its 52-week high of ₹18.50 (as on December 9, 2024). The current price reflects a strong recovery from the 52-week low of ₹9.99 (as on March 17, 2025).
| Price Info | Values |
|---|---|
| Previous Close | ₹15.31 |
| Last Traded Price | ₹15.90 |
| % Change | +3.85% |
| VWAP | ₹15.95 |
| 52-Week High | ₹18.50 |
| 52-Week Low | ₹9.99 |
The buy-sell order book indicates strong demand, with a buy quantity of 94,703 significantly exceeding the sell quantity of 59,560.
Strategic Use of Funds
The net proceeds of ₹3,657 lakh will be used across four primary objectives:
| Utilization Head | Allocation (₹ in lakh) |
|---|---|
| Working Capital | 2,500 |
| Brand Building & Marketing | 400 |
| Capital Expenditure (Tirupur Facility Upgrades) | 300 |
| General Corporate Purposes | 457 |
The working capital allocation aims to reduce reliance on short-term debt, while capital expenditure includes modernization at the Tirupur unit and brand investments in the core TT and Hi-Flyers lines.
Promoter & Management Commentary
Promoters, led by Mr. Rikhab Chand Jain, have indicated that they may renounce part or all of their entitlement, bringing the 90% minimum subscription clause (Regulation 86(1), SEBI ICDR) into force. If undersubscribed, the company will refund application monies within four days of issue closure.
About the Company
TT Limited is a BSE and NSE-listed integrated textiles company engaged in innerwear, casualwear, and yarn/fabric trading. The company has a core manufacturing unit in Tirupur and a strong B2B presence in North India. It was incorporated in 1978 and is based in New Delhi.
REF: https://nsearchives.nseindia.com/corporate/TTL_26062025183244_Intimation_for_LOF_and_ALOF.pdf
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