Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 read with Regulations 173A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith the Monitoring Agency Report dated 29th July, 2025, issued by CRISIL Ratings Limited (Monitoring Agency), with respect to utilization of the proceeds raised through issuance of equity shares by way of Qualified Institutions Placement Issue of the Company, for the quarter ended 30th June, 2025.
SUDARSCHEM · price
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Sudarshan Chemical Industries has submitted the CRISIL Ratings Monitoring Agency Report tracking the use of proceeds from its January 2025 Qualified Institutional Placement (QIP), which raised Rs 80,000 lakh (gross) by issuing 74.76 lakh equity shares at Rs 1,070 each. CRISIL confirmed there is no deviation from the disclosed objects and no major deviation from earlier monitoring reports. During the April–June 2025 quarter, the company used Rs 204.06 lakh — Rs 65.26 lakh for general corporate purposes (working capital payments to raw material suppliers) and Rs 138.80 lakh for issue-related expenses. Total cumulative utilization now stands at Rs 79,917.18 lakh (about 99.9% of gross proceeds), with only Rs 82.81 lakh left in the escrow account, earmarked for remaining issue expenses. The two largest allocations — Rs 32,500 lakh for the Heubach Group acquisition via Sudarshan Europe B.V. and Rs 28,500 lakh for debt repayment — were fully deployed in the previous quarter (March 2025).
This is a routine SEBI compliance filing with no red flags — proceeds are being used as promised, with negligible unspent balance. No material impact on the stock is expected; investors tracking the Heubach acquisition can note that the acquisition funding was already fully deployed in the prior quarter.