Deepak Nitrite Limited has informed the Exchange about General Updates
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Deepak Nitrite's wholly owned subsidiary Deepak Chem Tech Limited (DCTL) has allotted 1 crore 9% Optionally Convertible Redeemable Preference Shares (OCRPS) at ₹100 each, aggregating to ₹100 Crores, to another wholly owned subsidiary Deepak Phenolics Limited (DPL). The funds are intended to strengthen DCTL's capital base and support project expenses and general corporate purposes. DCTL currently operates a fluorination plant and is pursuing additional projects across Gujarat, with a turnover of ₹9.43 Crores in FY25. The transaction is a related-party transaction done at par on an arms-length basis using cash via banking channels. Deepak Nitrite continues to hold 100% of DCTL's equity capital directly, and together with DPL, 100% of its preference share capital.
This is an internal restructuring between two wholly owned subsidiaries and does not change the consolidated ownership or financial position of Deepak Nitrite. It signals management's commitment to funding DCTL's fluorination and other chemical projects in Gujarat, which could support future growth.