Tanfac Industries launches QIP, floor price set at Rs 2,090.34/share

What's the deal? Tanfac Industries jumped 3.74% to Rs 2,456.60 after its board approved a qualified institutional placement (QIP) of equity shares.

The floor price was set at Rs 2,090.34 per share, an 11.73% discount to the scrip's previous BSE close of Rs 2,368 on June 23, 2026.

The company may offer an additional discount of up to 5% on that floor price.

Why now? Tanfac authorised the issue to open on June 23, 2026.

It is a joint sector company promoted by Anupam Rasayan India and Tamil Nadu Industrial Development Corporation (TIDCO), and is among the leading producers of hydrofluoric acid and its derivatives.

What could go wrong? The company's standalone net profit fell 20.68% to Rs 18.03 crore in Q4 FY26.

That decline came despite a 12.29% jump in revenue from operations to Rs 193.07 crore over Q4 FY25.

The signal: The QIP shows Tanfac tapping institutional investors to fund growth, even as margins tighten.

The post-IPO equity raise reflects continued appetite for India's speciality chemicals players despite near-term profit pressure.

Image credit: Richard Hurd