Thirumalai Chemicals to raise ₹451 Cr via Preferential Issue—Seeks Turnaround Drive to Grow

Thirumalai Chemicals Ltd has made a preferential allotment of a maximum of 16.3 million equity shares at ₹277 per equity share to raise ₹4.51 billion (₹451 crore). The fund raising is part of the overall company strategy to build its balance sheet, to finance capacity expansion, and to meet working capital requirements in the backdrop of a slowdown in the earnings cycle.

 

The issue price is a small premium to recent trading levels and reflects investors' optimism about the potential of the company to recover in the long run. Thirumalai Chemicals, a market leader in phthalic anhydride and food ingredients, has been under stress in the recent quarters due to margin issues but is now looking at operational efficiency and product diversification.

 

Preferential issue is subject to shareholder and regulatory approval and allotment is in Q2 FY26.

 

Key Highlights:

Source: Value Research – Thirumalai Chemicals Share Update | Moneycontrol – Financials & Announcements