Deepak Nitrite’s (DNL) wholly owned subsidiary -- Deepak Chem Tech (DCTL) has issued and allotted 45,50,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS), having face value of Rs 100 each, aggregating to Rs 45.50 crore, to the company.
Objects of the infusion of funds into DCTL by DNL is to strengthen the capital base of DCTL and support DCTL in carrying out project expenses. The business carried on by DCTL is not outside the main line of business of the listed entity.
Deepak Nitrite is a leading manufacturer of organic, inorganic, fine and specialty chemicals.
