The Board of Directors at its meeting held on 28th October, 2025 has accorded its in-principle approval to participate in the fund raising undertaken by Thirumalai Chemicals Limited by ....
ULTRAMAR · price
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The Board of Ultramarine & Pigments Ltd, at its meeting on 28th October 2025, gave in-principle approval to participate in the fund raising by Thirumalai Chemicals Limited (TCL) via preferential allotment of equity shares to the promoter and promoter group. Ultramarine & Pigments is part of TCL's promoter group and currently holds 77.24% of TCL's total paid-up capital. The company plans to invest up to Rs. 45 Crores in this preferential issue. The disclosure follows TCL's own announcement of the fund raising dated 29th October 2025. This is essentially a promoter-group entity deploying additional capital into its associate/parent company.
For shareholders of Ultramarine & Pigments, this signals a sizeable capital commitment (up to Rs. 45 Crores) into TCL, reinforcing the promoter's intent to maintain or strengthen its 77.24% stake. While it shows promoter confidence and consolidation, it also involves deploying company funds into a related party, which could affect near-term liquidity but is unlikely to materially alter the stock's standalone valuation.