Tanfac Industries Expands with New Fluorinated Chemicals Facility

Tanfac Industries plans to invest Rs 495 crore in a new manufacturing facility for fluorinated chemicals and raise Rs 500 crore through equity shares. The facility, located in Cuddalore, Tamil Nadu, aims to be operational by November, enhancing the company's downstream product offerings and investor engagement.

Tanfac Industries Limited is set to enhance its operations with the establishment of a new manufacturing facility for fluorinated chemicals, a development expected to cost Rs 495 crore.

The company announced this initiative in a regulatory filing, revealing a strategic move to expand its downstream product line. Scheduled to commence operations in November at its Cuddalore site, the plant will have an annual production capacity of 20,000 tonnes.

To fund this project and further corporate activities, Tanfac Industries plans to raise Rs 500 crore by issuing equity shares. This capital-raising strategy includes a split of existing equity shares to enhance market liquidity and attract more investors.

(With inputs from agencies.)