Deepak Nitrite has clarified regarding a news item appearing in a financial daily titled “Deepak Nitrite plans rights issue to fund expansion, pare debt.”
The company has stated that it has made no plans to issue rights to fund expansion or to pare debt and, hence, no negotiations are being carried out. It also confirmed that the Company has not released any specific information pertaining to the news item and there have been no inputs / sources from the Company to the said news item.
The company further stated that all future growth plans involving fund raising exercise that are approved by the Board of Directors will be first communicated to the Stock Exchange at an appropriate time and in an appropriate manner.
