Thirumalai Chemicals Limited — Board Meeting, 19-06-2025: Outcome of Board Meeting

Thirumalai Chemicals has announced a board meeting on which approved a preferential equity issue to raise up to ₹450.63 Cr from 21 investors, including schemes of Motilal Oswal and Bandhan Mutual Funds. The shares will be issued at ₹277 each, primarily to strengthen the balance sheet and support growth. The board also gave the nod to pledge shares of its wholly owned subsidiary, TCL Intermediates Pvt Ltd, and appointed CRISIL Ratings as the monitoring agency for the fund use. Shareholder approval will be sought via an upcoming Extraordinary General Meeting.