TTI Enterprise Ltd

TTI Enterprise Limited was incorporated on 12 June, 1981. The Company is a Non Banking Financial Company engaged into the business of fund-based activities, providing loans & advances, making investments in shares, mutual funds and other financial products. It is listed with the Calcutta Stock Exchange Limited and Bombay Stock Exchange Limited in India. During the year 2013, five subsidiary companies were set up by the Company. M/s. Nirja Trimpex Ltd was amalgamated with the Company and Pursuant to this amalgamation, 75,000,000 fresh equity shares of Rs. 2/- each, fully paid-up, were issued to the erstwhile shareholders of Nirja Trimpex Ltd as per the exchange ratio approved by the Hon'ble Calcutta High Court. In 2021-22, there was change in the control & management of the Company, V S Ranganathan, Vasanthy Ranghanathan, Bindu K C, Kanakavally Prathapan Karumanthra, Mridula Mukundan and Sujith Venugopalan acquired 63,50,575 Equity Shares of Rs. 10/- each representing 24.998% of the Paid-Up Capital of the Company through Share Purchase Agreement dated September 20, 2021 between the existing promoters & Acquirers. The Acquirers made Open Offer of 76,21,327 Equity Shares of Rs. 10/- each representing 30% of the Paid-Up Capital of the Company. Finally, the Offer process got completed in May, 2022 and one of the Co-Acquirer Shri V S Ranganathan acquired 28,20,609 Equity Shares representing 11.103% of the Paid-Up Capital of the Company resulting this, the Board of the Company was changed on May 23, 2022 following the new management viz., V S Ranganathan, Bindu K C and Kanakavally Prathapan Karumanthra. The present management entered into Share Purchase Agreement on 6% July, 2022 for acquisition of 5143803 Fully Paid-Up Equity Shares of Rs.10/- each and made an Open Offer for 66,05,150 Fully Paid-Up Equity Shares of Rs. 10/- each at an Offer price of Rs. 13.50 per share representing 26% of the Paid-Up Capital of the Company. The Second Open Offer opened on November 03,2022 and closed on November 17,2022. and the acquirers acquired 6,13,858 Equity Shares representing 2.42% of the Paid-Up Capital of the Company.