Deepak Nitrite Limited has informed the Exchange about General Updates
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Deepak Nitrite Limited has informed the stock exchanges that its wholly owned subsidiary, Deepak Chem Tech Limited (DCTL), has allotted 68 lakh Optionally Convertible Redeemable Preference Shares (OCRPS) carrying a 9% coupon, at face value of ₹100 each, aggregating to ₹68 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 operates a Fluorination plant and is pursuing projects across Gujarat, with FY24-25 turnover of ₹9.43 Crores. The transaction is between two related parties (both wholly owned subsidiaries) and has been carried out at par on an arm's length basis. Deepak Nitrite continues to retain 100% equity ownership of DCTL, with no change in ultimate control.
This is an internal capital restructuring between wholly owned subsidiaries and has no direct impact on Deepak Nitrite's consolidated earnings or shareholder structure. It signals continued investment in the subsidiary's fluorination and chemical projects, which could support future growth, but there is no change in ownership or fresh capital being raised from the market.