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 filed its quarterly compliance report on the use of funds raised via a Qualified Institutions Placement (QIP) and Non-Convertible Debentures (NCDs) for the quarter ended 30th June 2025. Of the ₹800 crore raised through the QIP in January 2025, ₹799.17 crore (99.9%) has been utilized, entirely towards funding the acquisition of the Heubach Group's global pigment business through its subsidiary Sudarshan Europe B.V. The remaining ₹0.83 crore pertains to unutilized issue expenses. For the ₹99 crore NCDs issued in July 2022, 100% of the funds have been used for the stated purposes of working capital debt repayment, capex reimbursement, and payment of operating liabilities. The company has confirmed there is no deviation or variation in the use of proceeds for either instrument, and the audit committee and auditors have raised no comments. CRISIL Ratings is the monitoring agency for the QIP.
This is a routine governance disclosure confirming that funds are being deployed as promised to investors, with near-complete utilization of the QIP proceeds for the strategic Heubach acquisition. No negative signals for shareholders — in fact, it reflects disciplined execution of the stated acquisition plan.