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Thirumalai Chemicals' EGM approved a preferential issue of 1.62 Cr equity shares at ₹277 each, raising ₹450.62 Cr from non-promoter investors, including prominent mutual funds. This capital infusion strengthens the company's financials. Shareholders also approved pledging equity shares of its material wholly-owned subsidiary, TCL Intermediates Private Limited, as collateral for existing INR 100 Cr non-convertible debentures and future secured debt. Additionally, the company's Articles of Association were amended to facilitate the transfer of debentures, streamlining financial operations. These moves aim to bolster the company's financial flexibility and funding avenues.