Deepak Nitrite rises on getting nod to raise funds up to Rs 150 crore

11 Dec 2017

Deepak Nitrite is currently trading at Rs. 204.85, up by 2.45 points or 1.21% from its previous closing of Rs. 202.40 on the BSE.

The scrip opened at Rs. 203.95 and has touched a high and low of Rs. 209.90 and Rs. 203.15 respectively. So far 63072 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 234.00 on 11-Oct-2017 and a 52 week low of Rs. 75.80 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 209.90 and Rs. 196.00 respectively. The current market cap of the company is Rs. 2688.73 crore.

The promoters holding in the company stood at 46.59%, while Institutions and Non-Institutions held 24.18% and 29.23% respectively.

Deepak Nitrite has received an approval for raising of funds by way of Qualified Institutions Placement (QIP) of equity shares in accordance with the provisions of Chapter VIII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time and other applicable laws, up to an amount not exceeding Rs 150 crore, subject to approval of members of the company. The board of directors at their meeting held on December 11, 2017, has approved for the same. 

Gujarat-headquartered Deepak Nitrite has manufacturing facilities at Nandesari and Dahej in Gujarat, Roha and Taloja in Maharashtra, and at Hyderabad in Andhra Pradesh. It manufactures Bulk Chemicals & Commodities, Fine & Speciality Chemicals and Fluorescent Whitening Agents.

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