In an exchange filing, the firm's board approved, “raising further capital and to create, offer, issue and allot such number of equity shares having face value of Rs 10 each of the company and/or equity linked instruments, including convertible preference shares, non-convertible debt instruments along with warrants, fully convertible debentures, partly convertible debentures, and/or any other securities convertible into equity shares (including warrants or otherwise), global depository receipts, American depository receipts, foreign currency convertible bonds or any combination of Securities, through public and/or private offerings and/or by way of qualified institutions placement (QIP), or any combination thereof, in one or more tranches, for an aggregate amount not exceeding Rs 2,000 million.”

The company will seek requisite members approval by way of special resolution through postal ballot.

Tatva Chintan Pharma Chem is an integrated specialty chemical company, present across the value chain manufacturing phase transfer catalyst, structure directing agents, electrolyte salts and pharma & agrochemical intermediates and specialty chemicals.

The company's consolidated net profit declined 3.2% to Rs 16.95 crore despite of 26.4% rise in revenue from operations to Rs 124.51 crore in Q4 FY23 over Q4 FY22.

Shares of Tatva Chintan Pharma Chem shed 0.10% to Rs 1,780.20 on the BSE.