Deepak Nitrite has received its board's approval to sell a parcel of land admeasuring 12,141 square meters at Sinhagad Road in Pune, subject to receipt of all requisite approvals and permissions, based on the valuation report of renowned Independent professional firm.
The proposal to sell the said land is with a view to monetize the value of its unutilized assets and improve shareholders value by freeing up capital to facilitate growth. The Company will continue to make additional disclosures as and when definitive material events in this process take place.
Deepak Nitrite is a leading manufacturer of organic, inorganic, fine and specialty chemicals and a world leader in 2,4 and 2,6 Xylidine.
