Sudarshan Chemical to buy 15.89% stake in Sudarshan Colorants for Rs. 150.76 Cr

Sudarshan Chemical Industries Limited has officially executed a definitive agreement to acquire a 15.89% direct equity stake in its step-down subsidiary, Sudarshan Colorants India Limited. This strategic transaction involves a total cash consideration of Rs. 150.76 crore. Through this major corporate restructuring move, the equity shares previously held by the company's wholly-owned European subsidiary will be transferred directly to the main Indian parent entity.

Neogen subsidiary NML allots Rs. 76.8 crore stake to Morita

Neogen Chemicals Limited’s step-down subsidiary, Neogen Morita New Materials Limited (NML), has approved a Rs. 76.80 crore preferential allotment of equity shares to its Japanese joint-venture partner, Morita Investment Limited (MIL). Under this arrangement, NML’s board and shareholders cleared the issuance of 7,20,000 equity shares priced at Rs. 1,066.66 per share. This capital infusion alters the existing holding structure, granting MIL a 9.09% direct equity stake in the company.