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The promoter group of Sudarshan Chemical Industries sold as much as 3 per cent of its equity in two block deals on the BSE, exchange data showed, for a total of over ₹197 crore .
The shares were sold for around ₹950 apiece. The sellers were Pradeep Ramwilas Rathi, who had a 6.05 per cent stake at the end of September, and Subhadra Pradeep Rathi, who held 1.9 per cent and has sold the entire stake.
The buyers included Boon Investment and Trading Company, Jovial Investment and Trading Company, and Blue Daimond Properties.
Shares of Sudarshan Chemical have doubled over a one-year period and in mid-October hit a 52-week high of ₹1,235, recovering from the 52-week low of ₹448.10 it had seen in November of 2023.
The company is India’s largest pigment producer with a market share of 35 per cent and reported a net profit of ₹41 crore on revenue of ₹696 crore in the second quarter of FY25. It has two manufacturing plants in India and a research centre. It exports to over 85 countries.
It recently announced the acquisition of Heubach that would give it a global asset footprint of 17 manufacturing facilities in 11 countries.
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