Sudarshan Chemical Industries Limited , a leading chemical company, has disclosed the complete utilization of funds raised through various financial instruments, demonstrating transparency in its capital allocation strategy.

Preferential Allotment Fully Utilized

The company has reported the full utilization of ₹195.00 crores raised through a preferential allotment of 18,69,000 equity shares at ₹1,043.33 per share on January 13, 2025. These funds were deployed for:

1. Investment in Sudarshan Europe B.V., a wholly-owned subsidiary
2. General corporate purposes

Sudarshan Chemical Industries confirmed that there were no deviations from the stated objectives of the preferential issue.

QIP Proceeds Largely Deployed

In a separate update, the company provided details on its ₹800.00 crore Qualified Institutions Placement (QIP) issue from January 29, 2025:

• ₹797.13 crores have been utilized for:

  • Funding the proposed acquisition of global pigment business operations of the Heubach Group through Sudarshan Europe B.V.
  • Repayment or pre-payment of certain outstanding borrowings

• ₹2.86 crores remain unutilized, allocated for general corporate purposes and issue expenses

Non-Convertible Debentures Fully Utilized

Additionally, Sudarshan Chemical Industries confirmed the complete utilization of ₹99.00 crores raised through non-convertible debentures in July 2022. These funds were used for:

• Repayment of working capital debt
• Reimbursement of capital expenditure
• Payment of operating liabilities/creditors

Monitoring and Compliance

CRISIL Ratings Limited serves as the monitoring agency for the fund utilization of both the preferential allotment and the QIP issue. The company has filed these reports for the quarter ended March 31, 2025, in compliance with SEBI regulations.

Sudarshan Chemical Industries' proactive disclosure of fund utilization across various financial instruments underscores its commitment to transparency and adherence to regulatory requirements. The strategic deployment of these funds, particularly in international expansion and debt management, may position the company for potential growth and improved financial health.

Investors and stakeholders can take note of the company's disciplined approach to capital allocation and its focus on expanding its global footprint through strategic acquisitions and investments in its European subsidiary.

Sudarshan Chemical Industries Limited , a prominent player in the chemical industry, has disclosed the complete utilization of funds raised through various financial instruments, demonstrating its commitment to transparency and efficient capital allocation.

Preferential Allotment Fully Utilized

The company announced the full utilization of ₹195.00 crores raised through a preferential allotment of 18,69,000 equity shares at ₹1,043.33 per share. These funds were deployed for:

1. Investment in Sudarshan Europe B.V., a wholly-owned subsidiary
2. General corporate purposes

The company confirmed that there were no deviations from the stated objectives of the preferential issue.

Qualified Institutions Placement (QIP) Progress

Sudarshan Chemical Industries also provided an update on its ₹800.00 crore QIP issue. Out of the total amount:

• ₹797.13 crores have been utilized for:

  • Funding the proposed acquisition of global pigment business operations of the Heubach Group through Sudarshan Europe B.V.
  • Repayment or pre-payment of certain outstanding borrowings

• ₹2.86 crores remain unutilized, allocated for general corporate purposes and issue expenses

Non-Convertible Debentures Fully Deployed

The company confirmed the complete utilization of ₹99.00 crores raised through non-convertible debentures. These funds were used for:

1. Repayment of working capital debt
2. Reimbursement of capital expenditure
3. Payment of operating liabilities/creditors

Monitoring and Compliance

CRISIL Ratings Limited serves as the monitoring agency for the fund utilization of both the preferential allotment and the QIP issue. The company's Audit Committee has reviewed the utilization statements and found no deviations or variations from the stated objectives.

Transparency in Reporting

Sudarshan Chemical Industries has demonstrated its commitment to regulatory compliance by filing detailed reports on fund utilization as per SEBI regulations. These disclosures provide investors with clear insights into how the company is deploying the capital raised through various financial instruments.

The efficient utilization of funds across different offerings underscores Sudarshan Chemical Industries' focus on strategic growth initiatives, including international expansion and strengthening its financial position. As the company continues to execute its plans, investors and stakeholders will likely keep a close watch on the outcomes of these investments in the coming quarters.