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TANFAC Industries held an Extra-Ordinary General Meeting on February 23, 2026, where shareholders approved five key resolutions. These include a sub-division (stock split) of equity shares from face value of ₹10 to ₹5, and a corresponding change to the Capital Clause of the Memorandum of Association. Members also cleared a proposal to raise up to ₹500 crore by issuing up to 10 lakh equity shares (or 20 lakh post-split shares) through a Qualified Institutional Placement or other permissible modes. Additionally, Mr. Afzal Harunbhai Malkani, a Chartered Accountant with over 25 years of experience and former CFO of Anupam Rasayan, was redesignated from Non-Executive Non-Independent Director to Managing Director. Mrs. Sandhya Venugopal Sharma, a 1995-batch IAS officer currently at TIDCO, was appointed as a Nominee Non-Executive Director. The record date for the stock split will be communicated separately.
The stock split will improve share liquidity and make the stock more accessible to retail investors, but the proposed ₹500 crore fundraise could lead to equity dilution for existing shareholders. The elevation of a long-time Anupam Rasayan executive to Managing Director signals closer operational alignment with the major shareholder, while the TIDCO nominee appointment reinforces the government joint-venture character of the company.