Sudarshan Chemical Industries Limited has disclosed the utilization of ₹800 crores raised through a Qualified Institutions Placement (QIP) as of the quarter ending on September 30, 2025. The funds, which were raised on January 29, 2025, involved the issuance of 74,76,635 fully paid-up equity shares at ₹1,070 per share. This represents a discount of ₹37.89 to the floor price of ₹1,107.89 per share. The company confirmed that 100% of the funds raised were utilized for their intended purposes, including investments in their subsidiary, Sudarshan Europe B.V., for acquiring a global pigment business, repayment of borrowings, and general corporate purposes.

As part of their regulatory obligations, Sudarshan Chemical filed a report in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, detailing the allocation of the QIP proceeds. According to the statement, the funds were allocated without any deviations or variations from the original objects stated in the offer documents. Notably, the audit committee and external auditors found no issues or comments regarding the fund usage, reinforcing the company’s commitment to transparency and regulatory compliance.

In addition to the QIP, Sudarshan Chemical also reported on its debt securities, with a previous fund raise of ₹99 crores through the issuance of non-convertible debentures. This amount was fully utilized for its original objectives, such as the repayment of working capital debt and capital expenditures, with no deviations reported. The company's meticulous approach in managing its funds and ensuring compliance with regulatory frameworks showcases its strong governance practices and dedication to its strategic objectives.