Company Disclosure: Qualified Institutional Placement Completion

QIP Offering Details

  • Total Amount Raised: ₹250 crores
  • Issue Period: June 23, 2026 to June 25, 2026
  • Issue Price: ₹1,985.83 per equity share
  • Discount to Floor Price: 5% discount to the floor price of ₹2,090.34
  • Pricing Basis: Determined in accordance with Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018

Investor Participation

The QIP witnessed strong and diverse participation from marquee global and domestic institutional investors including:

  • Motilal Oswal (Mutual Fund & AIF)
  • Malabar Investments
  • 360One
  • Niveshaay Funds
  • Bengal Finance and Investment (Lucky Group)

Use of Proceeds

Proceeds will be utilized towards:

  • Financing project cost for establishment of proposed HFC-32 refrigerant gas manufacturing plant
  • Expansion of downstream fluorinated chemical capacities
  • General corporate purposes

Strategic Contracts Secured

The company has secured three consecutive long-term supplier arrangements:

1. Contract with one of India's leading air-conditioning and commercial refrigeration company for indefinite period with estimated value of approximately ₹61 crores

2. Contract with Japanese customer for 7,500 MT over 7 years with estimated value of ₹2,362 crores

3. Memorandum of Understanding to supply 5,000 MT per annum with large multinational company for 5 years with estimated value of ₹1,250 crores

  • Total Contract Value: Approximately ₹3,612 crores over 5-7 years

Operational Strategy

Investments in backward integration through expanded hydrofluoric acid (HF) and sulphuric acid capacities are expected to:

  • Strengthen raw material security
  • Improve cost competitiveness
  • Enhance operating margins

Advisory Team

  • Book Running Lead Managers (BRLMs): Motilal Oswal Investment Advisors Limited and Emkay Global Financial Services Limited
  • Legal Counsel to Company: Shardul Amarchand Mangaldas & Co.
  • Legal Counsel to Lead Managers: Trilegal

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.

Management Commentary

Mr. Afzal Malkani, Managing Director, stated: "The successful completion of the QIP marks an important milestone in TANFAC's growth journey and reflects the strong confidence reposed by institutional investors in the Company's long-term strategy and growth prospects."