Thirumalai Chemicals Stock Up 1.5% as Board Clears ₹56.14 Crore Preferential Issue to Promoter Group

Mumbai, Oct 29, 2025 – Thirumalai Chemicals Limited has sanctioned the issuance of equity shares via preferential allotment via private placement. The Company has proposed to raise ₹ 56.14 crore through the issuance of up to an aggregate 18,96,614 equity shares at proposed issue price of ₹296 per share (including a premium of ₹295 per share).

The issuance will, subject to shareholder and regulatory approvals, be made to 16 investors primarily of the promoter and promoter group. The intention of the issuance is to strengthen the promoter holding in the Company and/or improve the financial position of the Company.

Key Details of the Preferential Issue

The preferential allotment will include major promoters and their trust family members. Ultramarine & Pigments Ltd will be allocated 15,20,270 shares, resulting in a post-preferred allotment ownership of 18.23%. R Parthasarathy Family Trust and Bhooma Parthasarathy Family Trust will be allocated 12,162 and 11,824 shares post-pref allotment with an ownership interest in the Company of 2.00% and 1.95%, respectively.

R Sampath and Sujata Sampath, jointly, will hold 29,054 shares, while Sujata Sampath (jointly with R Sampath) will hold 15,202 shares. Ramya Bharathram (jointly with R Sampath) will have 16,891 shares, and Parthasarathy Rangaswamy (jointly with Bhooma Parthasarathy) will hold 1,21,621 shares, along with Bhooma Parthasarathy (jointly with Parthasarathy Rangaswamy) holding 64,189 shares.

Other family members and related trusts will hold the remaining balance, each with less than 0.1% stake. Post this issue, Ultramarine & Pigments Ltd’s stake will rise from 17.24% to 18.23%, further consolidating promoter control in the company.

Share Price Update

On Wednesday, the share price of Thirumalai Chemicals Limited closed 1.57% higher. The stock opened at ₹279.15 and moved within a range of ₹277.15 to ₹290.80 during the session. The company’s market capitalization stood at ₹3,350 crore. Over the past year, the stock has recorded a 52-week high of ₹394.95 and a low of ₹201.27. The company currently does not have a declared P/E ratio or dividend yield.

Board Meeting and Next Steps 

The board has approved conducting a postal ballot to obtain shareholder consent for the preferential issue. The meeting began at 11:45 a.m. and concluded at 1:00 p.m.

Incorporated in 1972, Thirumalai Chemicals Limited operates in the commodity chemicals sector, manufacturing maleic anhydride, fumaric acid, and related derivatives. Headquartered in Mumbai, the company has been listed on the stock exchange since May 14, 2003, and holds multiple ISO and HACCP certifications, emphasizing its focus on quality and sustainability.

REF: https://nsearchives.nseindia.com/corporate/TIRUMALCHM4_29102025132146_OutcomeofBoardMeeting29102025.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations