Subsidiary DCTL raises 120 crore via preference shares from group entity

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

Deepak Nitrite's wholly owned subsidiary Deepak Chem Tech Limited (DCTL) has allotted 1.2 crore Optionally Convertible Redeemable Preference Shares at 9 percent coupon, face value Rs 100 each, totalling Rs 120 crore, to fellow wholly owned subsidiary Deepak Phenolics Limited. The funds will strengthen DCTL's capital base and support project expenses and general corporate purposes. The transaction is between two group companies and has been done at par on an arms-length basis. DCTL's turnover for FY26 stood at Rs 172.23 crore.

Likely market impact

Internal group restructuring between two wholly owned subsidiaries. No change in Deepak Nitrite's ownership, but funds DCTL's project pipeline.