TIL Ltd: CARE Ratings Confirms No Deviation in Rights Issue Proceeds Utilization

TIL Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, prepared by CARE Ratings Limited. The report confirms that the utilization of proceeds from the Rights Issue of equity shares, aggregating to Rs. 199.51 crore, is in line with the objects stated in the offer document. The company raised Rs. 149.64 crore through application money and utilized Rs. 37.50 crore for General Corporate Purposes, Rs. 2.68 crore for Issue Expenses, and Rs. 109.46 crore for repayment/pre-payment of outstanding borrowings, including interest. CARE Ratings has declared no deviation from the objects and has provided a nil range of deviation. The report is based on information provided by the issuer and sources believed to be accurate, and CARE Ratings clarifies it does not perform audits or independent verification.