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Sudarshan Chemical Industries Ltd on Monday (September 28) said it has entered into a ₹150.76 crore share purchase agreement to acquire a 15.89% stake in Sudarshan Colorants India Ltd.
Under the agreement signed on September 28, Sudarshan Chemical will acquire 36,68,036 equity shares of face value ₹10 each in Sudarshan Colorants India from Sudarshan Europe B.V., a wholly owned subsidiary of the company.
The shares represent 15.89% of the total share capital of Sudarshan Colorants India. The aggregate consideration for the acquisition is ₹150,75,62,796. The acquisition is proposed to be completed on or after September 29, 2026, in accordance with applicable law.
ALSO READ | Sudarshan Chemical Q2 Results | Net profit jumps 67% to ₹30 crore, revenue up 16% to 689 crore
The transaction is part of Sudarshan Chemical's proposed acquisition of 70.26% of the total shareholding of Sudarshan Colorants India, formerly known as Heubach Colorants India Limited.
The proposed 70.26% acquisition involves shares held by Sudarshan Europe B.V. and Sudarshan Switzerland HLD1 AG and Sudarshan Switzerland HLD2 AG, wholly owned step-down subsidiaries of Sudarshan Chemical.
ALSO READ | CNBC-TV18 Newsbreak Confirmed: Sudarshan Chemical to acquire Heubach Group for ₹1,180 crore
In September this year, Sudarshan Chemical Industries Ltd said its arm has inked an agreement for sale of 100% stake in its other subsidiary VP4 Frankfurt GmbH for €76.5 million.
Sudarshan Germany Horizons GmbH, a step-down wholly-owned subsidiary of Sudarshan Chemical Industries, signed the definitive share purchase and transfer agreement for the 100% stake sale in VP4 Frankfurt, which is a wholly-owned subsidiary of the former and a step-down wholly-owned subsidiary of the latter, on Monday, August 31.
The buyer is part of Celanese Corporation, a global chemical and specialty materials company and does not belong to the promoter or promoter group of Sudarshan Chemical Industries, as per the company's exchange filing. The date of completion of sale is subject to fulfilment of conditions precedent and customary closing conditions, Sudarshan Chemicals said in its statement.
ALSO READ | Sudarshan Chemical rallies as Centre imposes duty on natural mica-based pearl industrial pigments
VP4 Frankfurt is primarily engaged in the manufacture of certain intermediates, primarily as a tolling operator and only a small share of its output is meant for captive consumption of Sudarshan Germany Horizons, the exchange filing said, adding that the stake sale will further sharpen the company's focus on its core pigment business.
The company added that VP4 Frankfurt had become part of Sudarshan via its acquisition of the Heubach Group and the divestment would strengthen the company's strategic focus and operational position.
Shares of Sudarshan Chemical Industries Ltd ended at ₹1,199.40, down by ₹22.70, or 1.86%, on the BSE.
Under the agreement signed on September 28, Sudarshan Chemical will acquire 36,68,036 equity shares of face value ₹10 each in Sudarshan Colorants India from Sudarshan Europe B.V., a wholly owned subsidiary of the company.
The shares represent 15.89% of the total share capital of Sudarshan Colorants India. The aggregate consideration for the acquisition is ₹150,75,62,796. The acquisition is proposed to be completed on or after September 29, 2026, in accordance with applicable law.
ALSO READ | Sudarshan Chemical Q2 Results | Net profit jumps 67% to ₹30 crore, revenue up 16% to 689 crore
The transaction is part of Sudarshan Chemical's proposed acquisition of 70.26% of the total shareholding of Sudarshan Colorants India, formerly known as Heubach Colorants India Limited.
The proposed 70.26% acquisition involves shares held by Sudarshan Europe B.V. and Sudarshan Switzerland HLD1 AG and Sudarshan Switzerland HLD2 AG, wholly owned step-down subsidiaries of Sudarshan Chemical.
ALSO READ | CNBC-TV18 Newsbreak Confirmed: Sudarshan Chemical to acquire Heubach Group for ₹1,180 crore
In September this year, Sudarshan Chemical Industries Ltd said its arm has inked an agreement for sale of 100% stake in its other subsidiary VP4 Frankfurt GmbH for €76.5 million.
Sudarshan Germany Horizons GmbH, a step-down wholly-owned subsidiary of Sudarshan Chemical Industries, signed the definitive share purchase and transfer agreement for the 100% stake sale in VP4 Frankfurt, which is a wholly-owned subsidiary of the former and a step-down wholly-owned subsidiary of the latter, on Monday, August 31.
The buyer is part of Celanese Corporation, a global chemical and specialty materials company and does not belong to the promoter or promoter group of Sudarshan Chemical Industries, as per the company's exchange filing. The date of completion of sale is subject to fulfilment of conditions precedent and customary closing conditions, Sudarshan Chemicals said in its statement.
ALSO READ | Sudarshan Chemical rallies as Centre imposes duty on natural mica-based pearl industrial pigments
VP4 Frankfurt is primarily engaged in the manufacture of certain intermediates, primarily as a tolling operator and only a small share of its output is meant for captive consumption of Sudarshan Germany Horizons, the exchange filing said, adding that the stake sale will further sharpen the company's focus on its core pigment business.
The company added that VP4 Frankfurt had become part of Sudarshan via its acquisition of the Heubach Group and the divestment would strengthen the company's strategic focus and operational position.
Shares of Sudarshan Chemical Industries Ltd ended at ₹1,199.40, down by ₹22.70, or 1.86%, on the BSE.
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