 "Thirumalai Chemicals rises to 1-month high post preferential allotment")
Thirumalai Chemicals share price today: Thirumalai Chemicals share price rose nearly 6 per cent on Wednesday on fundraise via preferential share allotment. The scrip rose as much as 5.90 per cent to ₹250.25 on BSE and marked the highest level since November 21.
Thirumalai Chemicals share price was trading 2.31 per cent higher at ₹241.75 as compared to 0.10 advance in the BSE Sensex index as of 11:11 AM.
The counter has been rising for three sessions in a row. On a year to date basis, Thirumalai Chemicals share price has declined 24.72 per cent this calendar year, according to Bloomberg data.
Total traded volume, so far in the day, on the BSE stood at 5.7 times its 30-day average. The relative strength index was at 52.1.
Thirumalai Chemicals share price touched a 52-week high of ₹340.55 on January 3, 2025, while it touched a 52-week low of ₹201.30 apiece on March 3 this year.
Why did Thirumalai Chemicals share price rise today?
Thirumalai Chemicals share price advanced on Wednesday as the company raised ₹56.14 crore via allotment of preferential shares to the promoter group. Its Funds Raising Committee Board approved the allotment of 1.89 million shares with a face value of ₹1 at a price of ₹296 apiece. The issue price includes a premium of ₹295.
The allotted equity shares will rank on equal footing in all respects with existing equity shares of Thirumalai Chemicals, the exchange filing said. The company had already received in-principle approval from stock exchanges for the issuance of the preferential shares on December 16, 2025.
Thirumalai Chemicals has a total of 120.5 million outstanding shares as paid-up equity capital, according to the exchange filing.
Among the promoter group individuals, Parthasarathy Rangaswamy, and Bhooma Parthasarathy bought most of the preferential shares. They got allotted a total of 37.8 million shares, Thirumalai Chemicals said in the exchange filing.
Promoter R Sampath, jointly with Sujata Sampath, contributed most to the fundraise. He paid ₹85.99 lakh for 29,054 shares. Promoter Sujata Sampath, jointly with R Sampath, bought 15,202 shares for ₹44.99 lakh. Rangaswamy Sampath, a promoter group individual in the Hindu Undivided Family, bought 6,418 shares at ₹18.99 lakh, as per the exchange filing.
Uttara and Mukund Family Trust got allotted 5,067 shares of Thirumalai Chemicals for ₹14.99 lakh, as per details in the exchange filing.
Thirumalai Chemicals’s subsidiary, TCL Limited started pre-commissing and start-up activities of a new manufacturing facility in West Virginia, US, the company informed on December 11.
The subsidiary expects to start up a part of the Maleic Anhydride (MAN) unit by the end of the calendar year. The start-up and stabilisation of the rest of the units will likely happen during first half of the calendar year 2026, the exchange filing said.