Deepak Nitrite Subsidiary Invests ₹120 Cr in Another Subsidiary

Deepak Chem Tech Limited (DCTL), a wholly-owned subsidiary of Deepak Nitrite Limited, has issued and allotted 1,20,00,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS) worth ₹120 Crores to Deepak Phenolics Limited (DPL), another wholly-owned subsidiary. The funds are intended to strengthen DCTL's capital base and support project expenses and general corporate purposes. DCTL operates plants for Fluorination, Nitric Acid, Nitration, and Hydrogenation, and is pursuing projects in Gujarat. The transaction was conducted at par and on an arm's length basis, with no governmental or regulatory approvals required.