Deepak Fertilisers & Petrochemicals Corporation has received in-principle approval for offering Foreign Currency Convertible Bonds (FCCBs) aggregating upto $30 million in two tranches to International Finance Corporation (IFC) upon opening of the issue by the Securities Issue Committee of Directors. The Board of Directors of the Company at its meeting held on April 22, 2019 has approved the same.
The Board has further granted an in-principle approval for issue of Compulsory Convertible Debentures (CCDs) by Smartchem Technologies (a wholly owned subsidiary of the Company) aggregating upto $30 million in two tranches to IFC.
Deepak Fertilisers & Petrochemicals Corporation business can be broadly categorized into Chemicals, Agribusiness and Specialty Retailing. The company's chemical division manufactures Methanol, various grades of Nitric Acid and Ammonia.
