In a bid to meet its expansion and diversification plan, Deepak Fertilisers & Petrochemicals Corporation (DFPCL) has sought approval of its shareholders for raising Rs 1,000 crore from the market during the current fiscal 2014-15.
Moreover, the company is also seeking approval for proposal to double the borrowing powers of its board to Rs 1,000 crore. The company is likely to use these funds to finance its plans for doubling complex fertiliser capacity to six million tonnes per annum.
Deepak Fertilisers & Petrochemicals is one of the leading manufacturers of industrial chemicals and fertilisers in India. The company operates in three business segments- chemicals, fertilisers and real estate.