Sudarshan Pharma Secures 188 Cr via 4.3 Cr Convertible Warrants

Sudarshan Pharma Industries revealed the authorization of Rs 188 Cr in capital raising via 4.3 Cr convertible warrants. The firm acknowledged the contract established between the Monitoring agency and the enterprise on January 29, 2025, and sanctioned the designation of CARE Ratings Limited, a duly registered entity with SEBI, as the monitoring agency responsible for supervising the utilization of the issue's funds.

In a significant corporate achievement, Sudarshan Pharma Industries Limited (SPIL) from Mumbai has accomplished considerable growth in innovation and an increase in its global presence.

On January 24, 2025, SPIL entered into a five-year Technology Transfer Agreement with Uttaranchal University. The contract allows for the sole use and ownership of Indian Patent No 202111029005 in the production of bioplastics derived from rice stubble, aloe vera waste, PVA, and glycerol plasticizer. This spending reflects SPIL's groundbreaking sustainable solutions.

Equally significant, SPIL established a five-year Rent Agreement with Daundi Biological Private Limited for the development of a contemporary R&D formulation center in Dehradun. The center is anticipated to start functioning in March 2025 and will improve SPIL's research efforts.

Additionally, SPIL has obtained approval from its Board of Directors for the purchase of Cibachem General Trading L.L.C., a Dubai-based general trading firm, for Rs 25 lakh. Upon receiving approval from the RBI, the acquisition is anticipated to be completed by March 31, 2025. This purchase is a significant move to expand SPIL's clientele in the Middle East.