TANFAC raises Rs 423.5 cr via QIP and preferential issue for expansion
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TANFAC Industries has raised about Rs 250 crore through a Qualified Institutional Placement and now proposes a preferential issue of 7.41 lakh equity shares at Rs 2,341 per share, aggregating around Rs 173.5 crore, subject to shareholder approval. Promoter Anupam Rasayan will invest Rs 135 crore, with the balance from Alrox Enterprises, Vivek Jain (Action Group) and Tatvam Trade. Total capital raise is Rs 423.5 crore, to fund expansion in R-32 refrigerant gas, value-added fluorochemicals and strategic investments. Paid-up equity rises from 2.12 crore to 2.195 crore shares, about 3.5 percent dilution.
Combined Rs 423.5 cr raise strengthens balance sheet for growth. Minor 3.5% equity dilution. Strong promoter participation signals confidence in expansion plans.