Theleme India increased its stake in Sudarshan Chemical Industries from 1.76% to 2.42%, acquiring 523,420 shares. This stake, including the additional shares, is worth ₹197.94 Cr at a price of ₹1037.65 per share. The shares were acquired in a rights issue context.
A manufacturer of organic and inorganic pigments and effect pigments for industrial applications, the company serves diverse sectors including coatings, plastics, textiles, and printing inks. Beyond pigment production, it designs and manufactures pollution control equipment, size reduction equipment, and grinding machinery for various industrial applications. The company operates through multiple manufacturing facilities across India and exports its products globally.
India equity vehicle of Theleme Partners, a London-based concentrated hedge fund founded in 2009 by Patrick Degorce (founding partner of TCI under Chris Hohn, ex-Merrill Lynch and Lehman). Theleme runs around USD 2 bn in 13F securities across a high-conviction global long book that frequently includes large Indian positions.