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TANFAC Industries held an Extra-Ordinary General Meeting on February 23, 2026 (via video conferencing) where shareholders approved five key resolutions with the required majority. These include a sub-division of equity shares from a face value of ₹10 to ₹5 each, and a corresponding amendment to the Capital Clause of the Memorandum of Association (now showing authorised capital of ₹35 crore split into 10 lakh preference shares of ₹100 each and 5 crore equity shares of ₹5 each). Shareholders also cleared a proposal to raise up to ₹500 crore through a Qualified Institutional Placement (QIP) or other permissible modes, equivalent to up to 10 lakh shares (or 20 lakh post-split shares). On the board, Mr. Afzal Harunbhai Malkani was redesignated as Managing Director (he is a Chartered Accountant with 25+ years of finance and capital markets experience, formerly CFO of Anupam Rasayan and Zen Technologies). Mrs. Sandhya Venugopal Sharma, a 1995-batch IAS officer of the Tamil Nadu cadre currently with TIDCO, was appointed as Nominee Director (Non-executive). The record date for the share sub-division will be announced separately.
For shareholders, this signals a potential dilution event (up to ₹500 crore equity raise) coupled with a stock split that could improve liquidity and make shares more affordable for retail investors. The record date for the sub-division will be key — those holding shares on that date will automatically receive doubled share count. Leadership elevation to a full-time Managing Director and addition of a government nominee may bring more strategic direction and execution focus to the company's growth plans.