Company Disclosure Correction

TANFAC Industries Limited (Scrip Code: 506854) submitted a correction notice dated July 07, 2026, regarding an inadvertent upload of an incorrect file on the BSE portal on July 06, 2026. The company requested that the earlier submission be treated as withdrawn and disregarded, and submitted the correct press release for record.

Capital Raising Activities

Qualified Institutional Placement (Completed)

  • The company successfully completed the first tranche of fund raising through a Qualified Institutional Placement (QIP) on June 25, 2026
  • Allotment of 12,58,918 equity shares of face value ₹5 each
  • Raised approximately ₹250 crore from marquee institutional investors
  • Based on enabling approval from Board of Directors on January 9, 2026 and shareholder approval at Extraordinary General Meeting on February 23, 2026
  • Original approval was for raising funds aggregating up to ₹500 crore through issuance of up to 20,00,000 equity shares

Preferential Issue (Proposed)

  • Board of Directors approved preferential issue of 7,41,082 equity shares
  • Issue price: ₹2,341 per equity share
  • Total amount: Approximately ₹173.5 crore
  • Subject to shareholders' approval and other applicable statutory and regulatory approvals

Investment Structure

  • Promoter Anupam Rasayan India Limited to invest ₹135 crore
  • Balance amount to be subscribed by institutional investors including:
  • Alrox Enterprises Private Limited (Part of Shanghvi Family Office)
  • Vivek Jain (Action Tesa)
  • Tatvam Trade

Total Capital Raise

  • Aggregate capital raise: Approximately ₹423.5 crore
  • Comprises completed QIP (₹250 crore) and proposed preferential issue (₹173.5 crore)

Use of Proceeds

  • Support strategic growth initiatives including establishing presence in R-32 refrigerant gas segment
  • Expanding portfolio of value-added fluorochemical products
  • Strengthen financial position and enhance financial flexibility
  • Reinforce alignment of interests between promoters and public shareholders

Management Commentary

Mr. Afzal Malkani, Managing Director, stated: "The successful completion of the QIP, followed by the proposed preferential issue, marks a significant milestone in TANFAC's growth journey and reflects the strong confidence of our promoters and investors in the Company's long-term strategy and future potential. Together, these capital raises will strengthen our financial position and enhance our ability to execute our planned investments while maintaining a prudent capital structure and creating long-term value for all stakeholders."

Company Background

TANFAC Industries Limited is a joint sector company promoted by Anupam Rasayan India Limited and Tamil Nadu Industrial Development Corporation (TIDCO). The company is among leading producers of Hydrofluoric Acid and its derivatives with manufacturing facilities spread over 60 acres in SIPCOT Industrial Estate, Cuddalore. The company began commercial production in March 1985 and is ISO 9001-2015, 14001-2015 and ISO 45001-2018 certified.