Deepak Nitrite Subsidiary Invests ₹80 Cr in OCRPS

Deepak Chem Tech Limited (DCTL), a wholly-owned subsidiary of Deepak Nitrite Limited, has issued and allotted 80,00,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS) worth ₹100 each, aggregating to ₹80 Crores, to Deepak Phenolics Limited (DPL), another wholly-owned subsidiary. This infusion of funds aims to strengthen DCTL's capital base and support project expenses and general corporate purposes. DCTL operates plants for Fluorination, Nitric Acid, Nitration, and Hydrogenation. The transaction is considered a Related Party Transaction and is conducted on an 'arms length' basis. No governmental or regulatory approvals are required.