Tinna Rubber Raises Rs 780.7 Mn via QIP Equity Placement

07 Jul 2025 CW Team

Tinna Rubber, one of Asia’s largest End of Life Tyres recycling companies, announced the successful completion of its QIP, fund raising for Rs 780.70 million by issuing approx 8.86 lakh equity shares to Qualified Institutional Buyers (QIB) in compliance with SEBI ICDR Regulations. The Fund Raising Committee authorised by the Board, in its meeting on June 27, 2025, approved the pricing and allotment in the QIP to eligible QIBs.

This marks the first ever QIP by the Company. The offering witnessed participation from reputed long-only institutional investors like ICICI Prudential Mutual Fund, JM Financial Mutual Fund, Bank of India Mutual Fund etc.

The proceed of fund raised through QIP, is proposed to be utilised for (i) Funding capital expenditure for expansion and upgradation, (ii) Re-payment of certain borrowings; and (iii) General corporate purposes.

This demonstrates the Company’s executional strength in rubber recycling, strong corporate governance, and long-term strategic vision.

Bhupinder Kumar Sekhri, Chairman and Managing Director said, “The successful QIP marks a significant milestone in Company’s growth journey. The capital raised will support the strengthening of our core operations and facilitate the establishment of a recovered carbon black plant, along with planned capacity expansions both in India and in key international markets. We are encouraged by the continued trust of our existing shareholders and welcome the new shareholders. We remain committed to delivering a robust financial performance and create long-term value for all our stakeholders.”

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