News ArticleTitan Company Limited Utilizes Rs. 13,750 Crore Commercial Paper for Working Capital by September 2026
All CP issuances comply with SEBI listing conditions with no adverse impact on credit ratings
Titan Company Limited has issued Commercial Paper totaling Rs. 13,750 crore in the financial year up to 30 September 2026. The proceeds are utilized exclusively for working capital purposes with no changes affecting credit rating, complying fully with SEBI regulations for listed securities.
Titan Company Limited
Corporate Action
Titan Company Limited issued Commercial Paper worth Rs. 13,750 crore during the financial year up to 30 September 2026, fully utilized for working capital requirements as per SEBI guidelines.
The company certifies that proceeds from multiple CP issues between April and September 2026 were utilized solely for working capital purposes.
All CPs were issued with face values ranging from Rs. 350 crore to Rs. 1,600 crore and mature between June and December 2026.
The company maintains a 'Standard' asset classification on its fund-based bank/financial institution facilities, indicating healthy credit quality.
No material financial status changes have occurred that could negatively impact the credit rating of the Commercial Paper.
The certificate confirming adherence to listing conditions and use of proceeds aligns with SEBI Circular SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021.
Highlights
- Total CP issuance of Rs. 13,750 crore reported for financial year ending 30 September 2026.
- All funds raised were employed for working capital requirements as disclosed.
- CP maturity dates span from 8 June 2026 to 10 December 2026.
- Company reports no adverse changes impacting CP credit rating.
- Compliance confirmed with SEBI operational circular on non-convertible securities listing.
Key Data Snapshot
What happened
- Titan Company Limited issued Commercial Paper totaling Rs. 13,750 crore during the financial year up to 30 September 2026.
- The proceeds were utilized exclusively for working capital purposes as stated in the CP offering documents.
- Company has complied with all listing conditions and regulatory requirements for these debt instruments.
Key details
- CP issuances occurred between 16 April 2026 and 15 September 2026 with varying face values from Rs. 350 crore to Rs. 1,600 crore per issuance.
- CPs have maturity dates ranging between 8 June 2026 and 10 December 2026.
- No material financial changes impacting credit rating are reported during this period.
Regulatory and governance context
- Certificate filed pursuant to SEBI Circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021 on operational listing of non-convertible securities.
- Confirmation of fund utilization and adherence to CP issuance directions submitted to BSE and NSE.
- Asset classification for bank/financial institution facilities reported as 'Standard', reflecting good financial health.
Highlights
- Total CP issuance of Rs. 13,750 crore reported for financial year ending 30 September 2026.
- All funds raised were employed for working capital requirements as disclosed.
- CP maturity dates span from 8 June 2026 to 10 December 2026.
- Company reports no adverse changes impacting CP credit rating.
- Compliance confirmed with SEBI operational circular on non-convertible securities listing.
Disclosures
- SEBI Circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021
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