Announced Tue, 7 Jul · 12:28 IST
TANFAC Industries raises around Rs 423.5 crore via QIP and preferential issue
Compliance View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
+0.2%1-day move
₹2313.40
prior close
₹2406.00
base price
In-mkt
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AI summary
TANFAC completed a Rs 250 crore QIP on June 25, allotting 12,58,918 shares to institutional investors. Board approved a preferential issue of 7,41,082 shares at Rs 2,341 each, raising about Rs 173.5 crore, pending shareholder approval. Promoter Anupam Rasayan will invest Rs 135 crore; rest from Alrox Enterprises, Vivek Jain, and Tatvam Trade. Total around Rs 423.5 crore for R-32 refrigerant gas entry and fluorochemical products expansion.
Likely market impact
Positive: about Rs 423.5 crore raise to fund growth and expansion. Expect equity dilution, but promoter backing signals confidence.