Deepak Fertilisers and Petrochemicals has sold 75% of its holding i.e. 21.51% of the share capital of Desai Fruits and Vegetables (DFV) to Contract Farming Mauritius. The company has received the said sale consideration of Rs 28.20 crore. The company has sold its holding as part of its strategy to divest from non-core investments. The Company was holding 28.67% of the Share capital of DFV.
After the aforesaid stake sale, now the Company will be holding only 7.17% of the Share Capital of DFV. Consequent to the aforesaid stake sale, DFV now is no more an associate company of the company.
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.
