Deepak Fertilizers And Petrochemicals Corporation Limited has informed the Exchange about intimation under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Deepak Fertilizers' step-down subsidiary Performance Chemiserve Limited (PCL) has allotted 63,286 equity shares to its holding company Deepak Mining Solutions Limited (DMSL) upon conversion of an Inter Corporate Deposit (ICD) of Rs. 1,044.85 Crores. DMSL is a wholly owned material subsidiary of Deepak Fertilizers. After this allotment, DMSL's shareholding in PCL remains 100%, meaning the ownership structure within the group stays unchanged. The transaction is essentially an internal financial restructuring where an inter-corporate loan has been converted into equity within the same group.
No direct impact on shareholders as the change is purely internal, involving only group companies, and overall ownership remains at 100%. It is a balance sheet restructuring event with no dilution or change in control.