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 issued and allotted 68 lakh 9% Optionally Convertible Redeemable Preference Shares (OCRPS) of face value Rs 100 each, aggregating to Rs 68 Crores, to another wholly owned subsidiary Deepak Phenolics Limited (DPL). The allotment is made at par (Rs 100 per share). The funds are intended to strengthen DCTL's capital base and support its project expenses and general corporate purposes. DCTL, which currently runs a Fluorination plant in Gujarat, had a turnover of only Rs 9.43 Crores in FY24-25. Deepak Nitrite continues to hold 100% of DCTL's equity share capital, with ownership remaining within the group. The transaction is between two related parties (both subsidiaries) but has been carried out at arm's length.
This is an internal group restructuring with no change in ultimate ownership or dilution for Deepak Nitrite shareholders. The capital infusion supports DCTL's growth projects in fluorination and chemicals, which could benefit the group long-term, but has no immediate direct impact on the listed entity's financials or stock price.