Thirumalai Chemicals Limited has informed the Exchange regarding allotment of 16268040 securities pursuant to Preferential Issue at its meeting held on August 26, 2025
TIRUMALCHM · price
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Thirumalai Chemicals has allotted 1.62 crore equity shares (face value ₹1) at ₹277 each on a preferential basis to 21 identified investors, raising approximately ₹450.62 crores. The issue price includes a premium of ₹276 per share. Prominent institutional investors participated, including Motilal Oswal Small Cap Fund, Motilal Oswal Multi Cap Fund, Motilal Oswal Business Cycle Fund, 360 One Equity Opportunity Fund, Bandhan Small Cap Fund, Bandhan Business Cycle Fund, and Bandhan Balanced Advantage Fund, along with several HNI individuals and body corporates. Following this allotment, the company's paid-up equity capital rises from ~10.24 crore shares to ~11.87 crore shares, a dilution of roughly 16%. The company had received in-principle approval from stock exchanges on August 21, 2025 for this preferential issue.
Existing shareholders will see their stake diluted by approximately 16% due to the new share issuance. However, the strong participation by reputed institutional investors signals confidence in the company's prospects and provides a significant capital infusion of ~₹450 crores, which could support growth, expansion, or debt reduction — though the specific end-use of funds has not been disclosed in this filing.