Thangamayil Jewellery Limited (TMJL), a prominent player in the Indian jewellery market, has announced the expansion of its retail footprint in Chennai, Tamil Nadu. The company is set to inaugurate two new branches in the city on Sunday, September 21, 2025, marking a significant step in its growth strategy.

Strategic Locations

The new outlets will be situated in two key areas of Chennai:

1. Avadi
2. Keelkattalai

These locations have been strategically chosen to cater to the diverse customer base in Chennai, potentially tapping into new market segments and enhancing the company's presence in the region.

Official Announcement

The expansion news was officially communicated to the stock exchanges on September 15, 2025. V. Vijayaraghavan, Company Secretary & Compliance Officer of Thangamayil Jewellery Limited, signed the official communication, stating:

"We are glad to inform you that we are opening 2 more New Branches at Avadi and Keelkattalai in Chennai on Sunday, 21st September, 2025."

Implications for Growth

This expansion move by Thangamayil Jewellery Limited indicates the company's commitment to growth and its confidence in the Chennai market. By increasing its physical presence, TMJL aims to:

• Enhance accessibility for customers
• Potentially increase market share in Chennai
• Strengthen its brand presence in key urban areas

The opening of these new branches may also signal the company's positive outlook on consumer demand for jewellery in the region.

As Thangamayil Jewellery Limited continues to expand its retail network, investors and market watchers will likely keep a close eye on how this growth strategy impacts the company's performance in the coming quarters.

Thangamayil Jewellery Limited has made significant progress in utilizing the funds raised from its Rs 510 crore rights issue, according to a recent monitoring agency report submitted by CARE Rating Limited. The report, which covers the quarter ended June 30, 2025, reveals that the company has already deployed 96% of the total proceeds across various strategic initiatives.

Key Highlights of Fund Utilization

• Total Utilization: Rs 489.44 crore out of Rs 510 crore (96% of total proceeds)
• Unutilized Amount: Rs 20.56 crore

Breakdown of Fund Allocation

Capital Expenditure for New Stores

• Purpose: Setting up six new retail stores
• Fully utilized allocation of Rs 8.71 crore

Inventory for New Stores

• Utilized Rs 380.51 crore out of Rs 401.03 crore allocated
• Remaining: Rs 20.52 crore

General Corporate Purposes

• Fully utilized allocation of Rs 97.67 crore

Rights Issue Expenses

• Utilized Rs 2.55 crore out of Rs 2.59 crore allocated
• Remaining: Rs 0.04 crore

Additional Details

• The rights issue was conducted from February 21 to March 4, 2025
• Funds raised:
  • Rs 178.50 crore from promoters through converted unsecured loans
  • Rs 331.50 crore through allotment to other investors
• The monitoring agency reported no deviations from the stated objectives of the rights issue

Regulatory Compliance and Approvals

Thangamayil Jewellery has obtained necessary government approvals for its new stores, including:

• BIS standards certification
• GST registration
• Labor department clearances

Management of Unutilized Funds

The company has invested the unutilized funds as follows:

Conclusion

The monitoring agency report indicates that Thangamayil Jewellery Limited is making efficient use of the funds raised through its rights issue, with a clear focus on expansion through new store openings and inventory management. The high utilization rate of 96% suggests that the company is executing its growth strategy as planned, with only a small portion of the funds remaining to be deployed.

Investors and stakeholders can take note of the company's adherence to its stated objectives and the transparent reporting of fund utilization, which is a positive indicator of the management's commitment to growth and shareholder value creation.