Thirumalai Chemicals Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
TIRUMALCHM · price
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Thirumalai Chemicals Limited has filed its quarterly statement under SEBI Regulation 32 for the preferential issue completed on December 18, 2025. The company raised Rs. 5,613.99 lakhs (approximately Rs. 56 crore) through the preferential issuance. As of March 31, 2026, the company reports NO deviation or variation in the utilisation of funds. The proceeds have been deployed as follows: Rs. 3,584.62 lakhs toward investment in TCL Global BV (for eventual investment into TCL Specialties LLC in the USA to fund capital expenditure), Rs. 2,012.59 lakhs toward general corporate purposes, and Rs. 15.8 lakhs toward issue expenses. A small balance of Rs. 0.98 lakhs remains in the Share Application Account pending utilisation for general corporate purposes.
The absence of any deviation indicates funds are being deployed according to plan. The international investment through TCL Global BV toward TCL Specialties LLC signals strategic expansion into the US market, which could be positive for long-term growth prospects.