Thirumalai Chemicals Ltd approved the sale of up to 9,50,000 equity shares in Ultramarine & Pigments Limited through the open market on September 30, 2026. The transaction represents a reduction in promoter holding by approximately 3.25% of the target company's total capital.

Transaction Details

The Fund Raising Committee of the Board of Directors considered and approved the divestment during its meeting held on Wednesday, September 30, 2026. The sale will be executed through stock exchanges in the open market, with an expected completion timeline of September 30, 2026.

Regulatory Compliance

The company disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 11:00 am and concluded at 11:45 am. Aditya Sharma, Company Secretary and Compliance Officer, signed the disclosure submitted to both the National Stock Exchange of India Limited and BSE Limited.

What the Numbers Show

The proposed sale of 9,50,000 shares constitutes roughly 34.6% of Thirumalai Chemicals' current stake of 27,38,837 shares in Ultramarine & Pigments Limited. Following this transaction, the promoter holding is expected to decline from 9.38% to approximately 6.13% of the target company's total capital, assuming the full quantity is sold at the disclosed closing prices.

Thirumalai Chemicals has approved the sale of up to 14,60,000 equity shares in Ultramarine & Pigments Limited, representing a 5% stake in the target company. The Fund Raising Committee authorized the move during its meeting on August 30, 2026.

The transaction is expected to be completed within seven working days through modes permitted under SEBI regulations. Thirumalai Chemicals currently holds 41,98,837 equity shares in Ultramarine & Pigments, constituting 14.38% of the total capital.

Transaction Details

The sale involves a significant portion of the promoter's holding. Below are the key parameters of the proposed divestment:

The closing price of Ultramarine & Pigments on the BSE as of August 28, 2026, was ₹410.70. The company confirmed that the transaction does not fall under related party transactions.

What the Numbers Show

The proposed sale reduces Thirumalai Chemicals' holding in Ultramarine & Pigments from 14.38% to approximately 9.38%. This represents a reduction of roughly one-third of its current stake, signaling a strategic partial exit while retaining a significant minority interest in the listed entity.