26th March, 2025
BSE Limited
Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400 001
Scrip Code - 506655
Scrip Code NCDs - 974058
Dear Sir / Madam,
National Stock Exchange of India Limited Exchange Plaza, C - 1, Block - G,
Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051
Scrip Symbol - SUDARSCHEM
Sub: Intimation as per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 - Sale of entire Equity Shares held by the Company in Sudarshan Japan Limited
We wish to inform that the Company has entered into the Agreement for sale of entire investment held by the Company (in the form of Equity Shares) in Sudarshan Japan Limited (also known as Sudarshan Japan K. K.), a Wholly Owned Subsidiary of the Company to Sudarshan Europe B.V., another Wholly Owned Subsidiary of the Company on 25th March, 2025.
Pursuant to the aforesaid transaction, Sudarshan Japan Limited has ceased to be a Wholly Owned Subsidiary of the Company and has become a Step - Down Subsidiary of the Company.
The detailed disclosure as required pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July, 2023 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated 31st December, 2024 is enclosed herewith as "Annexure A".
Kindly take the same on record.
Thanking you,
Yours faithfully,
For SUDARSHAN CHEMICAL INDUSTRIES LIMITED
MANDAR VELANKAR
GENERAL COUNSEL AND COMPANY SECRETARY
Encl.: As above.
Sudarshan Chemical Industries Limited
Registered Office: 7th Floor, Eleven West Panchshil, Survey No 25, Near PAN Card Club Road, Baner, Pune 411 069, Maharashtra, India T: +91 20 6828 1200 | E:contact@sudarshan.com | www.sudarshan.com | CIN: L24119PN1951PLC008409
"Annexure A"
Disclosure under Regulation 30 read with Para A of Part A of Schedule III of the SEBI Listing
Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123, dated 13th
July, 2023 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated 31st December, 2024
Sr No. | Particulars | Information with respect to Sudarshan Japan Limited |
1. | The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division or undertaking or subsidiary or associate company of the listed entity during the last financial year; | Revenue from Operations: Nil % of Total Revenue from Operations: 0% Total Net-Worth: Rs. (26.56) Lakhs |
2. | Date on which the agreement for sale has been entered into; | Pursuant to in-principle approval granted by the Board of Directors, the Company has entered into the Agreement for sale of entire investment held by the Company (in the form of Equity Shares) in Sudarshan Japan Limited, a Wholly Owned Subsidiary of the Company to Sudarshan Europe B.V., another Wholly Owned Subsidiary of the Company on 25th March, 2025. |
3. | The expected sale/disposal; date of completion of | On 25th March, 2025, the Agreement for sale of entire investment held by the Company (in the form of Equity Shares) in Sudarshan Japan Limited, a Wholly Owned Subsidiary of the Company to Sudarshan Europe B.V., another Wholly Owned Subsidiary of the Company, has been entered into. The said Agreement records the receipt of agreed consideration by the Company and transfer of ownership of equity shares in Sudarshan Japan Limited to Sudarshan Europe B.V. |
4. | Consideration sale/disposal; received from such | JPY 17,828,500 |
5. | Brief details of buyers and whether any of the buyers belong to the promoter / promoter group / group companies. If yes, details thereof; | The buyer viz., Sudarshan Europe B. V., being a Wholly Owned Subsidiary is a related party of the Company. |
Sudarshan Chemical Industries Limited
6. | Whether the transaction would fall within related party transactions? If yes, whether the same is done at "arms length"; | The transaction is falling under the purview of Related Party Transaction. The consideration for sale has been determined on the basis of an independent valuation report and the transaction was undertaken on an "arm's length" basis. |
7. | Whether Sale, lease or disposal of the undertaking is outside Scheme of Arrangement? If yes, details of the same including compliance with regulation 37A of LODR Regulations. | Not Applicable |
8. | Additionally, in case of a slump sale, indicative disclosures provided for amalgamation/merger, shall be disclosed by the listed entity with respect to such slump sale. | Not Applicable |
Sudarshan Chemical Industries Limited