Latest News | Sudarshan Chemical Industries Promoters Sell 3 Pc Stake for Rs 197 Crore

New Delhi, Nov 27 (PTI) Pradeep Ramwilas Rathi and Subhadra Pradeep Rathi, the two promoters of Sudarshan Chemical Industries, on Wednesday sold a 3 per cent stake in the company for Rs 197 crore through open market transactions.

According to the bulk deal data on the BSE, Pradeep Ramwilas Rathi offloaded 7.6 lakh shares of Sudarshan Chemical Industries, while Subhadra Pradeep Rathi sold 20.75 lakh shares.

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The shares were sold in the price range of Rs 950.04-950 apiece, taking the combined deal value to Rs 197.15 crore.

Pursuant to the latest transaction, Subhadra Pradeep Rathi exited the firm by selling entire 1.9 per cent stake in Sudarshan Chemical Industries, while the holding of Pradeep Ramwilas Rathi has declined to 4.95 per cent from 6.05 per cent in the firm.

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Meanwhile, Boon Investment and Trading Co, Jovial Investment and Trading Co and Blue Daimond Properties picked up 20.22 lakh shares or 2.92 per cent stake in the company.

The shares were acquired at an average price of Rs 950 per piece, taking the combined aggregate value to Rs 192.14 crore.

Details of the other buyers of Sudarshan Chemical Industries shares could not be identified on the exchange.

Last month, Sudarshan Chemical Industries said it will acquire global pigment business operations of the Heubach Group of Germany for a total consideration of Euro 127.5 million (about Rs 1,180 crore).

Shares of Sudarshan Chemical Industries rose 0.49 per cent to close at Rs 986.45 apiece on the BSE.

In a separate bulk deal on the BSE, Nomura Singapore exited Vishal Fabrics by selling 21.15 lakh shares or a 1.07 per cent stake in the company for Rs 6 crore through an open market transaction.

The shares were sold at an average price of Rs 28.46 apiece, taking the deal value to Rs 6.02 crore.

Legends Global Opportunities (Singapore) bought 20.33 lakh shares of Vishal Fabrics at the same price, as per the data.

Details of the other buyers of Vishal Fabrics' shares could not be ascertained.

Shares of Vishal Fabrics jumped 1.97 per cent to settle at Rs 28.46 per scrip on the BSE.

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