en.Wedoany.com Reported - India-based fluorochemical manufacturer TANFAC Industries is accelerating its next phase of growth after securing a total capital infusion of approximately INR 4.235 billion through a Qualified Institutional Placement (QIP) and a proposed preferential issue.

The company's board has approved the preferential issuance of 741,082 shares at an issue price of INR 2,341 per share, totaling approximately INR 1.735 billion, subject to shareholder approval. This follows TANFAC's completion of a QIP, which raised approximately INR 2.5 billion from prominent institutional investors, strengthening its balance sheet and providing additional momentum for expansion plans.

In the proposed preferential issue, promoter Anupam Rasayan India Limited will invest INR 1.35 billion, with the remainder subscribed by institutional investors, including Alrox Enterprises Private Limited, Vivek Jain (Action Group), and Tatvam Trade (Niveshaay Investments).

This combined fundraising reinforces promoter commitment and investor confidence in the company's long-term growth trajectory. The new capital is expected to enhance financial flexibility, support expansion initiatives, and further align promoter and shareholder interests.

The proceeds will be deployed toward key growth initiatives, including strengthening TANFAC's position in the R-32 refrigerant gas segment, expanding its portfolio of value-added fluorochemical products, executing capacity expansion plans, and making strategic investments to enhance scale, capabilities, and long-term competitiveness.

Upon completion of the preferential issue, TANFAC's paid-up share capital will increase from 21,208,918 shares to 21,950,000 shares. Managing Director Afzal Malkani stated that the successful completion of the QIP and the subsequent preferential issue reflect the strong confidence of promoters and investors in the company's long-term strategy and future potential. The capital raised will strengthen the financial position and enhance the ability to execute planned investments while maintaining a prudent capital structure and creating long-term value for all stakeholders.