Deepak Chem Tech raises Rs 40 crore via 9 percent convertible preference shares
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Deepak Chem Tech, a wholly owned subsidiary of Deepak Nitrite, issued 40 lakh 9 percent optionally convertible redeemable preference shares to fellow subsidiary Deepak Phenotics. The shares were issued at face value for Rs 40 crore in cash. The funds will strengthen Deepak Chem Tech's capital base and support projects for its Gujarat fluorination plant, which had FY25 turnover of Rs 9.43 crore. Deepak Nitrite's effective ownership is unchanged.
Supports subsidiary projects with no ownership change. Returns depend on project execution and the cost of the 9 percent preference funding.