TANFAC Industries Completes Private Placement and Announces Key Board Appointments

TANFAC Industries Completes Private Placement and Announces Key Board Appointments​

TANFAC INDUSTRIES LIMITED announced several significant outcomes following its Board of Directors meeting held on July 06, 2026. The decisions included raising funds through a preferential private placement, appointing Dr. D. Karthikeyan to the board, announcing the resignation of Mrs. Sandhya Venugopal Sharma, and naming Mr. Yogesh Mittal as President (Technical & Operations).

Funds Raised Through Preferential Private Placement​

The company successfully raised up to Rs. 1,73,48,72,962 through the issuance of equity shares on a preferential basis. A total of 7,41,082 equity shares were issued at an issue price of ₹2,341.00 per share. The face value for all these shares was set at ₹5 each.

The allocation across four investors detailed in the company's meeting outcomes is summarized below:


The issuance of the 7,41,082 equity shares totaled Rs. 1,73,48,72,962. The price for all issued shares was ₹2,341.00 per equity share, which includes a premium of ₹2,336.00 per equity share.

Key Personnel Changes and Appointments​

New Board Appointment:
The company appointed Dr. D. Karthikeyan, IAS (DIN: 02259481), as Chairperson and Additional Director (Nominee Director, Non-Executive), effective July 06, 2026. Mr. Karthikeyan is a 1997 batch officer of the Indian Administrative Service and presently serves as Principal Secretary to the Government of Tamil Nadu and Chairman and Managing Director of TIDCO (Tamil Nadu Industrial Development Corporation Limited). He holds an M.Sc. (Statistics), M.Phil., PGDCA, and Ph.D. (Statistics - Time Series).

Director Resignation:
Mrs. Sandhya Venugopal Sharma, IAS (DIN: 08445015), resigned from the position of Nominee Director, Non-Executive, effective July 06, 2026.

Senior Management Appointment:
Mr. Yogesh Mittal was appointed as President (Technical & Operations) with effect from July 06, 2026. Mr. Mittal is a Chemical Engineer from IIT Roorkee and has over 36 years of experience in the chemicals manufacturing industry, having held senior leadership positions at companies such as Deepak Fertilizers and Petrochemicals Corporation Limited and SRF Limited.

Future Plans and Listing Proposal​

The Board meeting approved the proposal for listing the company's equity shares on the National Stock Exchange of India Limited (NSE). The management also confirmed the convening of an Extra-Ordinary General Meeting (EGM) scheduled for July 30, 2026, through video conferencing or other audio-visual means, to seek necessary shareholder approvals for the aforementioned matters.

BLUEJET Stock Price Movement​

Blue Jet Healthcare Limited maintains its value in live trading, currently holding steady at ₹556.00 as of 3:07 PM. The stock has seen significant volume activity, with 432,702 shares traded during the session.