TANFAC Industries Raises ₹173.5 Cr via Preferential Issue
TANFAC Industries Limited announced its Board of Directors has approved a preferential issue of approximately ₹173.5 crore at ₹2,341 per equity share. This follows a successful Qualified Institutional Placement (QIP) of ₹250 crore. The preferential issue includes ₹135 crore from Promoter Anupam Rasayan India Limited and subscriptions from other institutional investors. The combined capital raise of ₹423.5 crore aims to support the company's growth and expansion plans, including strengthening its R-32 refrigerant gas segment, expanding its fluorochemical product portfolio, and undertaking strategic investments. This capital infusion is expected to enhance the company's financial position and reinforce investor confidence.
Key Highlights
- TANFAC approves preferential issue of ₹173.5 crore at ₹2,341 per share.
- Total capital raise including QIP is ₹423.5 crore.
- Funds to support expansion in refrigerant gas and fluorochemicals.
- Promoter Anupam Rasayan India Limited to invest ₹135 crore.
- Aims to strengthen financial position and drive long-term growth.
Price Impact
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