Announced Thu, 30 Apr · 19:51 IST
Thirumalai Chemicals takes Rs.65 Cr unsecured loan from promoter group firm
TIRUMALCHM · price
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Price reaction · full curve 14 horizons · vs prior close
+8.1%1-day move
₹204.00
prior close
₹207.71
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+1.9+1.8+2.9+0.7+8.1+8.3+8.8+6.0+4.2+1.4+3.4-12.6-11.8—
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AI summary
Thirumalai Chemicals has signed a loan agreement to borrow Rs.65 Crores from Ultramarine & Pigments Limited (UPL), a promoter group company. The unsecured loan carries 10% annual interest, compounded quarterly, with a 3-year tenure repayable at end. UPL holds 18.23% in Thirumalai, which holds 14.38% in UPL. The deal is a related-party transaction done at arm's length. No security pledged; no amount is currently outstanding.
Likely market impact
Adds Rs.65 Cr of new debt at 10% interest from a related party; no immediate cash drawdown, but future interest burden of ~Rs.6.5 Cr/year.