Tilaknagar Industries to Raise INR 2,296 Crore via Preferential Issue

Tilaknagar Industries Limited (TI) (BSE: 507205 | NSE: TI), a leading Indian-Made Foreign Liquor (IMFL) manufacturer, today announced that its Board of Directors has approved a preferential issue of securities (equity shares and warrants) amounting to approximately INR 2,296 crore. The issue price of INR 382 per security is in compliance with the pricing determined under Regulation 164 of the SEBI ICDR Regulations.

The company intends to utilize the proceeds raised through the Preferential Issue ("Issue Proceeds") towards acquisition of Imperial Blue Brand and general corporate purpose.

A total of 44 investors are participating in this issue, including promoters and existing prominent investors. Of these, nine investors are subscribing through equity shares, contributing approximately INR 549 crore. The remaining 35 investors are participating through warrants, raising around INR 1,747 crore. As per the terms, INR 437 crore (25 per cent of the warrants issue size) will be payable at the time of allotment of warrants, while the balance INR 1,310 crore will be received upon conversion into equity shares.

The promoter group is actively participating in the issue with Mr. Amit Dahanukar, Chairman and Managing Director of TI, subscribing to warrants worth neatly INR 306 crore. Other notable investors include Axana Estates LLP, SMALLCAP World Fund Inc, TIMF Holdings, Funds managed by Abakkus Asset Manager Private Limited, Bandhan Mutual Fund, Arpit Khandelwal, and several other institutional and marquee high-net-worth individuals.

This fundraise marks a significant milestone in TI's growth trajectory and reflects strong investor confidence in the company's long-term vision and potential.

Shares of Tilaknagar Industries Limited was last trading in BSE at Rs. 510.45 as compared to the previous close of Rs. 509.10. The total number of shares traded during the day was 214432 in over 3746 trades.

The stock hit an intraday high of Rs. 524.00 and intraday low of 496.65. The net turnover during the day was Rs. 109826260.00.

Source : Equity Bulls

Keywords

TilaknagarIndustries INE133E01013 FundRaising PreferentialIssue