DMH Stallard advises Optiva Securities as broker to Tirupati Graphite in £10 million equity fundraising

20 Apr 2021

Nick Williams, Nuria Ashmore Barrios and Amber Monaghan advised Optiva Securities Limited (Optiva) on its role as broker to Tirupati Graphite plc (Tirupati) in a £10 million equity fundraising which completed today (20 April) on the admission of the shares subscribed to the Standard Segment of the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange.

The fundraising comprised a placing with institutional and other investors of 11,111,111 ordinary shares of £0.025 each in Tirupati at a price of £0.90 per share to raise an aggregate gross amount of £10 million.

Tirupati is a fully integrated, revenue generative, specialist graphite producer and graphene developer with operations in Madagascar and India. The net proceeds of the fundraising will primarily be used to expedite Tirupati's modular medium-term development plan to take advantage of the strong market demand for its products.

The placing was oversubscribed and is the latest in a number of recent successful fundraisings for which Optiva has been the broker.
 

Further reading

Permitted Development Rights and the revised NPPF: Article 4 directions

Blog, Legal Updates
22/07/2021
A revised National Planning Policy Framework has just been published. Holly Stevenson focuses on the change to Article 4 Directions
Read more Read

Can commercial lessees now ‘relax’ given the extended Government moratorium on forfeiture for non payment of rent?

Legal Updates
20/07/2021
Property Litigation Partner, Keith Pearlman, doesn't think so and explains why they could be in for a nasty shock from 1 October of this year
Read more Read

Excluding and limiting liability: How to play your cards right

Blog
15/07/2021
John Yates considers the art of crafting clauses to reduce risk
Read more Read

Update on the rules concerning the changes to Crown Preference

Blog, Legal Updates
15/07/2021
As corporate insolvencies remain low, a clear picture of how the partial reintroduction of Crown Preference is likely to impact on businesses, and on lender practices, has yet to emerge. Oliver Jackson provides an update
Read more Read
  • Brighton Office

    1 Jubilee Street

    Brighton

    East Sussex

    BN1 1GE

  • Gatwick Office

    Griffin House

    135 High Street

    Crawley

    West Sussex

    RH10 1DQ

  • Guildford Office

    Wonersh House

    The Guildway

    Old Portsmouth Road

    Guildford

    Surrey

    GU3 1LR

  • Horsham Office

    Ridgeland House

    15 Carfax

    Horsham

    West Sussex

    RH12 1DY

  • London Office

    6 New Street Square

    New Fetter Lane

    London

    EC4A 3BF

  • Get in touch