Loan & Debt30 Apr 2026, 08:01 pm
Thirumalai Chemicals secures ₹65 Cr unsecured loan from Ultramarine
AI Summary
Thirumalai Chemicals Ltd (TCL) has signed a Loan Agreement with Ultramarine & Pigments Limited (UPL) to obtain an inter-corporate loan of ₹65 Crores. UPL is identified as a related party and a member of TCL's promoter group. The loan is unsecured, has a tenure of three years, and carries an interest rate of 10% per annum, compounded quarterly and payable at the end of the tenure. The transaction is confirmed to be at arm's length. TCL holds a 14.38% equity stake in UPL, while UPL holds 18.23% in TCL. This loan will provide TCL with additional funding.
Key Highlights
- Thirumalai Chemicals secured a ₹65 Cr unsecured loan.
- Loan is from Ultramarine & Pigments, a related party.
- The loan has a 3-year tenure at 10% interest p.a.
- Interest will compound quarterly and be payable at tenure end.
- The transaction is at arm's length, as per regulatory disclosure.
Price Impact
More from TIRUMALCHM