Sudarshan Chemical Industries Limited — QIP/Rights/Pref., 13-12-2024: Allotment of Securities

Sudarshan Chemical Industries Limited has announced the allotment of 980,000 warrants on a preferential basis via private placement to Mr. Rajesh Balkrishna Rathi, a member of the Promoter Group and Managing Director. Each warrant is priced at ₹1,019.75, inclusive of a premium of ₹1,017.75, with an initial consideration of ₹24.98 crore received. Upon exercise, these warrants can be converted into equity shares during the next 18 months, potentially giving the holder a 7.17% equity stake in the company on a fully diluted basis. The equity shares from this conversion will be listed on the stock exchanges.