Subsidiary30 May 2026, 09:37 pm
Deepak Nitrite: Subsidiary Allots ₹120 Cr Preference Shares
AI Summary
Deepak Nitrite Ltd's wholly-owned subsidiary, Deepak Chem Tech Limited (DCTL), has allotted 1,20,00,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS) with a face value of ₹100 each, aggregating to ₹120.00 Crores, to Deepak Phenotics Limited (DPL), another wholly-owned subsidiary. The allotment aims to strengthen DCTL's capital base and support its project expenses and general corporate purposes. Both DCTL and DPL are related parties, and the transaction was conducted at arm's length.
Key Highlights
- Deepak Chem Tech Ltd allots ₹120 Cr OCRPS to Deepak Phenotics Ltd.
- The funds will strengthen DCTL's capital base and support project expenses.
- The transaction is an arm's length transaction between related parties.
- DCTL operates plants for Fluorination, Nitric Acid, Nitration, and Hydrogenation.
- No governmental or regulatory approvals are required for the investment.
Price Impact
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