Investment23 May 2025, 06:32 pm
Deepak Nitrite Invests ₹ 45.50 Crores in Subsidiary Deepak Chem Tech Limited
AI Summary
Deepak Nitrite Limited (DNL) has invested ₹ 45.50 Crores in its wholly owned subsidiary, Deepak Chem Tech Limited (DCTL), by issuing and allotting 45,50,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS) with a face value of ₹ 100 each. This investment aims to strengthen DCTL's capital base and support its project expenses. DCTL, a chemical industry company, is actively pursuing projects in Gujarat and had a turnover of ₹ 0.86 Crores in FY 2023-24. The transaction is on an arms length basis and does not require any governmental or regulatory approvals.
Key Highlights
- Deepak Nitrite Limited invests ₹ 45.50 Crores in its subsidiary, Deepak Chem Tech Limited.
- Investment made through issuing and allotting 45,50,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS) with a face value of ₹ 100 each.
- Investment aims to strengthen DCTL's capital base and support its project expenses.
- DCTL is a chemical industry company with a turnover of ₹ 0.86 Crores in FY 2023-24.
- Transaction is on an arms length basis and does not require any governmental or regulatory approvals.