On 16th December 2024, TT Limited's Board of Directors met and approved several key decisions that will shape the company’s future growth trajectory. The decisions made during this meeting were in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as updated.

1. Allotment of Equity Shares and Convertible Warrants

TT Limited has approved the allotment of 10,00,000 equity shares to two non-promoter entities at an issue price of Rs. 122 each (including a premium of Rs. 112). The allocation breakdown is as follows:

• Venus Partners: 7,50,000 equity shares
• Vinitha Manish Jain: 2,50,000 equity shares

These shares will rank pari passu with the existing shares of the company.

Additionally, the Board approved the allotment of 8,00,000 convertible warrants at the same issue price of Rs. 122 per warrant (including a premium of Rs. 112). The recipients are:

• Subhash Phootarmal Rathod: 6,00,000 warrants
• VASM Consultants Pvt. Ltd.: 2,00,000 warrants

2. Share Sub-division (10:1 Split)

TT Limited's Board also approved the sub-division of its equity shares from a face value of Rs. 10 each to Rs. 1 each. This 10:1 stock split aims to improve liquidity and encourage retail investor participation. The expected timeframe for completion is approximately two months, pending shareholder approval.

The capital clause of the company’s Memorandum of Association (MOA) will also be amended to reflect the new share structure. The new authorized capital will be Rs. 45 crore, divided into 45,00,00,000 equity shares of Rs. 1 each.

3. Appointment of Hardik Jain as Executive Director

In another key decision, the Board appointed Shri Hardik Jain as an Executive Director, designated as Whole Time Director of the company. His appointment is effective 24th January 2025. Hardik Jain, aged 22, holds a degree in Finance and Marketing from the University of Melbourne. He brings with him two years of experience in the hosiery industry.

Notably, Hardik Jain is the son of Smt. Jyoti Jain, Joint Managing Director, and Shri Sanjay Kumar Jain, the Managing Director, and the grandson of Shri Rikhab Chand Jain, the Chairman of the company.

4. Relocation of Registered Office

The Board approved the relocation of TT Limited’s registered office from 879, Master Prithvi Nath Marg, Karol Bagh, New Delhi to Poddar House, 2nd Floor, 71/2C, Rama Road, Moti Nagar, New Delhi, effective from 16th December 2024.

5. Extra-Ordinary General Meeting (EGM)

The Board also scheduled an EGM for Friday, 24th January 2025, to seek shareholder approval for the matters discussed above, including the sub-division of shares, MOA alterations, and equity allotments. The meeting will be conducted via video conferencing or other audio-visual means.

The Board Meeting began at 11:00 AM and concluded at 12:00 PM on 16th December 2024. These updates mark a significant step towards the company’s growth and restructuring, with an emphasis on increasing share liquidity, expanding shareholder base, and enhancing corporate governance.

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