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Time Technoplast inks pact to acquire 76% stake in Systoverse
Apr-15-2026

Time Technoplast, as part of its strategy to strengthen its High-Density Polyethylene (HDPE) Pipe portfolio and drive inorganic growth, has entered a memorandum of understanding (MoU) with the promoters of Systoverse (SPL) - a going concern, to acquire a 76% stake on a net asset basis, with the remaining 24% to be retained by existing shareholders. The proposed acquisition remains subject to customary due diligence, including financial, legal, tax, and regulatory assessment.

The proposed acquisition of SPL is expected to create strong synergies and unlocking new growth opportunities. The agreement aligns with Maharashtra’s infrastructure growth policy, which has seen a consistent investment in the sector, underscoring strong potential for business development in the region. The acquisition represents a strategic expansion for the company, establishing an operational presence in Maharashtra. SPL is fully compliant and investment-ready, having secured all key regulatory and operational approvals required to manufacture and scale. Further, SPL benefits from a structurally lower tax burden under Section 115BAB of the Income Tax Act, qualifying for a concessional 15% corporate tax rate (for the entire life of the company) as against standard present corporate tax rate of 25%.

The acquisition further aligns with the company’s strategic plans and supports the Government of India’s ‘Make in India’ vision by combining sustainability with innovation. It enables the company to deliver efficient, durable, and easy-to-handle pipe solutions while strengthening its position within the domestic pipe industry.

Time Technoplast (Time Tech) is a multinational conglomerate with operations in Bahrain, Egypt, Indonesia, India, Malaysia, U.A.E, Taiwan, Thailand, Vietnam, Saudi Arabia & USA is a leading manufacturer of polymer products.

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