Announced Mon, 29 Jun · 23:43 IST
TANFAC raises INR 250 Cr via QIP, first equity raise in 30 years
Compliance View source PDF
Price
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Price reaction · full curve 14 horizons · vs prior close
-0.8%1-day move
₹2491.00
prior close
₹2482.00
base price
After-mkt
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AI summary
TANFAC raised INR 250 Cr via QIP at Rs 1,985.83 per share, its first equity raise in 30 years. Proceeds will fund a new HFC-32 refrigerant plant, downstream fluorochemical expansion, and backward integration into HF and sulphuric acid. Investors include Motilal Oswal, Malabar, 360One, Niveshaay, and Bengal Finance. The company has secured contracts worth about Rs 3,612 Cr over 5-7 years, including a 7-year Japanese deal for 7,500 MT valued near Rs 2,362 Cr.
Likely market impact
Equity dilution from QIP, but strong order book of around Rs 3,612 Cr and fresh capital for expansion should support medium-term growth.