Sudarshan Chairman Converts Warrants To Equity Raising Stake

24 Jun 2026 CW Team

Sudarshan Chemical Industries Limited said that Mr Rajesh Rathi, global chairman and managing director and promoter, exercised 0.98 million (mn) convertible warrants allotted to him in December 2024 and converted them into equity shares, with the allotment completed on 10 June 2026.

He converted the warrants at an issue price of Rs 1,019.75 each, representing a premium of about 16 per cent to the market price on 10 June 2026. The conversion raised the promoter group holding to 9.32 per cent, from 8.19 per cent, and completed a capital commitment of close to Rs 1 billion (bn).

Mr Rathi said he had helped shape Sudarshan over more than three decades and was backing it with his own capital because he was confident in its future. The conversion at a premium was described by the company as a signal of long-term promoter commitment to the business and its prospects. The company said the move reinforced the promoters' belief in growth potential. The firm said the action aligned with the promoters' long-term strategic view for steady growth.

Sudarshan operates 19 production sites and serves more than 4,000 customers in over 120 countries. The company recently opened its second global head office in Frankfurt following the acquisition of the Heubach Group in March 2025, which anchored its expanded international footprint. The firm supplies organic, inorganic and pearlescent pigments across coatings, plastics, inks and cosmetics. The company emphasised its focus on performance and sustainability in manufacturing.

Headquartered in Pune and Frankfurt, Sudarshan is a global leader in colour solutions and specialised pigments, supported by more than 3,900 employees and 19 manufacturing sites worldwide. The company said it continues to set benchmarks in colour quality, performance and sustainability. Media contact information was provided in the announcement. Investors were directed to regulatory filings and the company website for further details.

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