Sudarshan Chemical Industries Limited — Others, 15-05-2025: Monitoring Agency Report

Sudarshan Chemical Industries Limited has shared a report from Crisil Ratings on the use of Rs 800 Cr raised through its QIP issue at Rs 1,070 per share. Nearly all funds (Rs 797.13 Cr) have been used as planned—mainly for investing in its subsidiary Sudarshan Europe B.V., aiding the acquisition of Heubach Group’s pigment business, repaying some debt, and other corporate needs. A small balance of Rs 2.87 Cr remains in bank accounts reserved for upcoming expenses, with no deviations from the original funding goals.