Sudarshan Chemical Industries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
SUDARSCHEM · price
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Sudarshan Chemical Industries has confirmed that funds raised through three separate issuances were utilised without any deviation from the stated objects. A preferential allotment of ₹195 Crores (allotted on 13 Jan 2025) was fully deployed into its wholly-owned subsidiary Sudarshan Europe B.V. and general corporate purposes. A QIP of ₹800 Crores (allotted on 29 Jan 2025 at ₹1,070 per share, a discount of ₹37.89 to the floor price of ₹1,107.89) was largely utilised, with ₹797.13 Crores deployed towards the Heubach Group acquisition via Sudarshan Europe B.V. and debt repayment, while a small ₹2.86 Crores remained unutilised. Separately, ₹99 Crores raised via NCDs in July 2022 has been 100% utilised for working capital debt repayment, capex reimbursement and operating liabilities.
Positive for shareholders — the company has stuck to its stated use of proceeds across all three instruments with no deviations, reinforcing fund-raising discipline. The minor unutilised balance in the QIP (₹2.86 Cr) is negligible and is expected to be deployed next quarter, with no material impact on the stock.