1. Acquisition of Tandhan Polyplast (TPL) - The company completed the 100% acquisition of TPL on 17 October 2025 for ₹44.6 crore via a share swap, gaining a business with FY25 standalone turnover of ₹167.8 crore. This transaction transforms Tandhan Industries from a dormant entity with nil revenue into an established manufacturer with immediate scale in the plastic and polymer products sector.
2. Industrial shed construction underway - Tandhan Polyplast Ltd has paid ₹4.30 crore to Tandhan Exim Pvt Ltd as part of a ₹21.66 crore proforma invoice for construction of an industrial shed. The ongoing build-out signals physical infrastructure expansion that will support increased manufacturing output once completed.
3. Promoter warrants with ₹2.93 crore upfront payment - Ritu Jalan was allotted 78.25 lakh convertible warrants at ₹15 each, paying 25% upfront (₹2.93 crore), with the balance due upon conversion within 18 months. The non-promoter’s cash commitment and the structure of the instrument create a clear pathway for an additional ₹8.8 crore equity inflow tied to future conversion.
4. Open offer completion cements new promoter control - The open offer by Ankit Jalan and Anuj Jalan for 26% of the expanded equity opened on 6 January 2026 at ₹15 per share, following the share-swap acquisition. Consolidation of promoter holding removes uncertainty around the control premium and aligns the new management’s incentives with public shareholders.