Time Technoplast Limited, a specialist in polymer‑based products, has announced the launch of a Qualified Institutional Placement (QIP) to raise approximately ₹800 crore from institutional investors.
According to the company’s exchange filing, the QIP is being conducted under Chapter VI of the Securities & Exchange Board of India (SEBI) ICDR regulations and Section 42 of the Companies Act.
The floor price for the issue has been set at ₹211.70 per share, with a maximum discount of up to 5 % to the floor price.
Time Technoplast intends to use the proceeds to support business initiatives such as capacity expansion, product diversification, and strengthening its balance sheet.
The market has taken note of the move with shares of Time Technoplast drawing attention; in the trading session following the announcement, the stock ended slightly lower, reflecting a cautious investor posture.
