Time Technoplast Board Approves Merger, Drops Ebullient Acquisition, Invests in TICL

Time Technoplast Limited (TTL) announced that its Board of Directors, in a meeting held on August 26, 2026, granted in-principle approval for the merger of its subsidiary, TPL Plastech Limited (TPL), with itself. The appointed date for this merger is April 01, 2026. This strategic move aims to consolidate the group structure, rationalize manufacturing units and product lines, foster innovation, and improve operational efficiency. The merger is expected to enhance the combined entity's competitive strength and reduce costs through operational and financial synergies. Further approvals and the finalization of the swap ratio are pending.

In a separate decision, the Board decided not to proceed with the acquisition of a 74% stake in Ebullient Packaging Private Limited (EPPL). This decision comes after the expiry of the Memorandum of Understanding (MoU) signed on September 06, 2025. Following a comprehensive due diligence and evaluation of EPPL's business, the Board concluded that, in light of subsequent global geopolitical developments and changes in the business environment, it was not prudent to proceed with the acquisition. The discontinuation of this proposal is not expected to result in any financial loss to the company.

Additionally, the Board approved an investment of up to ₹50 crore in Time Intercontinental Limited (TICL), a newly incorporated company focused on trading, import, export, processing, and distribution of polymers and related raw materials. This investment, to be made in one or more tranches within 12 months, will result in TTL holding up to 65% of TICL's paid-up share capital, making TICL a subsidiary. The investment is expected to benefit TTL by enabling bulk purchase discounts on polymer procurement and strengthening raw material sourcing capabilities.