Deepak Nitrite Limited has informed the Exchange about General Updates
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Deepak Nitrite Limited announced that its wholly owned subsidiary Deepak Chem Tech Limited (DCTL) has issued and allotted 1.5 crore 9% Optionally Convertible Redeemable Preference Shares (OCRPS) worth ₹150 crores to another wholly owned subsidiary, Deepak Phenotics Limited (DPL). The shares have a face value of ₹100 each and were issued at par. This capital infusion aims to strengthen DCTL's capital base and support its ongoing project expenses across various sites in Gujarat. DCTL operates plants for Fluorination, Nitric Acid, Nitration, and Hydrogenation, with FY 2024-25 turnover of ₹9.43 crores. The transaction is between related parties (both subsidiaries) but conducted on an arms-length basis.
This is an intra-group fund transfer between wholly owned subsidiaries and does not directly impact Deepak Nitrite's standalone financials or shareholder value. The move signals continued investment in DCTL's expansion and project pipeline, which could support future revenue growth for the group.