Investment24 Apr 2025, 03:58 am
Deepak Fertilisers Subsidiary to Raise Rs. 800 Crores via Compulsorily Convertible Debentures
AI Summary
Deepak Fertilisers & Petrochemicals Corporation Ltd. announced that its wholly owned material subsidiary, Deepak Mining Solutions Limited (DMSL), will issue Compulsorily Convertible Debentures (CCD) worth Rs. 800 Crores to Tata Capital Limited and SCM Growth LLP. The funds will be utilized for long-term resources, acquisition, capital expenditure, reimbursement of capex incurred, strengthening the balance sheet, and general corporate purposes. An Option Agreement has been executed between the Company, DMSL, Investors, and Catalyst Trusteeship Limited, providing put and call options under certain specified circumstances.
Key Highlights
- Deepak Mining Solutions Limited to raise Rs. 800 Crores via Compulsorily Convertible Debentures
- Funds to be used for long-term resources, acquisition, capital expenditure, and general corporate purposes
- Option Agreement executed between the Company, DMSL, Investors, and Catalyst Trusteeship Limited
- Put and call options available under certain specified circumstances
- SCM Growth LLP, owned by the Promoters of Deepak Fertilisers, is one of the Investors