Thirumalai Chemicals Limited has informed the Exchange about Intimation of Allotment of Non-Convertible Debentures by Fund Raising Committee of the Board of Directors
TIRUMALCHM · price
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Thirumalai Chemicals has allotted senior, secured, unlisted, redeemable non-convertible debentures (NCDs) on a private placement basis, raising INR 100 Crores in total. Each debenture has a face value of INR 10 Lakhs, and the issuance is structured in three series with possible multiple tranches. The Fund Raising Committee had approved the issue on 29th May 2025 and confirmed the allotment on 9th June 2025. Since these are privately placed and unlisted, the NCDs will not trade on the stock exchange. No coupon rate or yield details have been disclosed in this filing.
Shareholders are not diluted as the fundraising is through debt, not equity. The INR 100 Crore infusion strengthens the company's balance sheet for operations or expansion, though it adds to overall debt. Watch for the coupon rate in future disclosures to assess the cost of this borrowing.