Deepak Nitrite to raise funds up to Rs 150 crore

Deepak Nitrite has received an approval for the allotment of 56,81,775 Equity Shares of Rs 2 each at a price of Rs 264 per Equity Share (including share premium of Rs 262 per Equity Share), aggregating to Rs 149,99,88,600. The Project Funding Committee of Board of Directors of the Company at its meeting held on January 30, 2018, approved 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.