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 Phenotics 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, with a turnover of ₹172.23 Crores in FY 2025-26. The transaction is considered an arm's length deal and does not require governmental or regulatory approvals.