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 55 lakh 9% Optionally Convertible Redeemable Preference Shares (OCRPS) at face value of ₹100 each, raising ₹55 Crores from another wholly owned subsidiary, Deepak Phenotics Limited (DPL). The OCRPS carry a 9% coupon and were issued at par. The funds will be used to strengthen DCTL's capital base and support its project expenses. DCTL operates a Fluorination plant in Gujarat (started March 2024) and had a turnover of just ₹9.43 Crores in FY25. The transaction is between related parties (both being wholly owned subsidiaries) and was carried out on an arms-length basis. No third-party investor is involved, and there is no change in ultimate ownership or control.
This is an internal fund infusion within Deepak Nitrite's wholly owned subsidiaries and does not involve any external capital raising or change in ownership. It should not materially impact Deepak Nitrite's consolidated financials or shareholder value, though it provides funding support to DCTL's ongoing projects in the fluorination chemicals space.