Tirupati raises £1.05m to optimise production in Madagascar

Specialist flake graphite company Tirupati Graphite has raised gross proceeds of £1.05-million by way of a private placing of 9.5-million new ordinary shares.

Optiva Securities acted as sole broker and bookrunner to the company.

The placing is conditional only on admission of the placing shares to the standard segment of the official list of the Financial Conduct Authority and to trading on the main market of the LSE, which is expected to become effective on or about January 22.

Tirupati Graphite PLC (LON:TGR) is a fully integrated specialist graphite and graphene producer, with operations in Madagascar and India. The Company is delivering on this strategy by being fully integrated from mine to graphene. Its global multi-location operations include primary mining and processing in Madagascar, hi-tech graphite processing in India to produce specialty graphite, and a state-of-art graphene and technology R&D center to be established in India. 

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