Thirumalai Chemicals EGM Approves ₹450.63 Crore Preferential Issue

About this update from Thirumalai Chemicals Limited

Thirumalai Chemicals Limited announced the successful passing of a special resolution to approve the issuance of equity shares for cash consideration via a preferential issue on a private placement basis, totaling ₹450.63 crore, during its Extraordinary General Meeting (EGM) held on July 14, 2025. The resolution received 99.55% of valid votes in favor.Voting Results for Preferential IssueParticularsDetailsNumber of members voted113Number of shares for votes cast in favor4,42,26,450Number of shares for votes cast against2,01,027Percentage of total number of valid votes cast in favor99.55%Percentage of total number of valid votes cast against0.45%Invalid votesNilTotal valid votes cast4,44,27,477Preferential Allotment DetailsThe EGM approved the issuance and allotment of up to 1,62,68,040 fully paid-up equity shares with a face value of ₹1 each, at a price of ₹277 per equity share (including a premium of ₹276 each). This aggregates up to ₹450.63 crore. The shares will be issued to proposed allottees who are not promoters or part of the promoter group, via a preferential issue on a private placement basis for cash consideration.The proposed allottees include:Motilal Oswal Small Cap FundMotilal Oswal Multi Cap FundMotilal Oswal Business Cycle Fund360 One Equity Opportunity Fund CAT3 - AIFTurnaround Opportunity Fund CAT3 - AIFBandhan Business Cycle FundBandhan Balanced Advantage FundBandhan Small Cap FundOne Up Financial Consultants Private LimitedSandhya Nilesh ShahOracular Advisory Private LimitedSound Securities Private LimitedSahaj Securities LLPVinod Maganlal ShahSamarth Jayesh DoshiSamyak Akshaykumar DoshiTejas TrivediTikri Partners LLPJVS Holdings LLPAdvait Gopal NarangSrinivasan VaradarajanThe "Relevant Date" for calculating the floor price for the preferential allotment was fixed as June 13, 2025, as it is 31 days prior to the EGM date.Terms and ConditionsThe equity shares offered, issued, and allotted to the proposed allottees will be subject to the following terms and conditions:Allotment of equity shares shall be made in dematerialized form.Proposed allottees must pay 100% of the consideration for the equity shares at the time of application.Consideration for allotment must be paid from the respective bank accounts of the proposed allottees.The equity shares allotted shall rank pari-passu with existing equity shares of the company.The equity shares ...

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