Sudarshan Chemical Industries Sees Major Stake Movements

Pradeep Ramwilas Rathi and Subhadra Pradeep Rathi sold a 3% stake in Sudarshan Chemical Industries for Rs 197 crore. Meanwhile, new investors acquired significant shares. Sudarshan also plans to acquire Heubach Group's pigment business. Concurrently, Nomura Singapore exited Vishal Fabrics, with Legends Global Opportunities purchasing the shares.

In a significant development for Sudarshan Chemical Industries, its promoters, Pradeep Ramwilas Rathi and Subhadra Pradeep Rathi, divested a 3% stake in the company, realizing Rs 197 crore via open market transactions as of Wednesday.

According to BSE's bulk deal data, Pradeep Rathi offloaded 7.6 lakh shares, whereas Subhadra Rathi sold 20.75 lakh shares. Shares were sold between Rs 950.04 and Rs 950, aggregating a total of Rs 197.15 crore. Post-transaction, Subhadra Rathi completely exited her 1.9% stake, while Pradeep Rathi's shareholding reduced to 4.95% from 6.05%.

New investments came from Boon Investment and Trading Co, Jovial Investment and Trading Co, and Blue Diamond Properties, acquiring a collective 2.92% stake, valued at Rs 192.14 crore, based on Rs 950 per piece share price. Whereas, other buyer details remain undisclosed. Notably, Sudarshan Chemical intends to purchase Heubach Group's global pigment operations for Euro 127.5 million. Sudarshan's stock saw a 0.49% rise, closing at Rs 986.45 on the BSE.

(With inputs from agencies.)