Deepak Nitrite's subsidiary, Deepak Chem Tech, allots ₹68 Crore OCRPS to Deepak Phenolics
The transaction is between wholly-owned subsidiaries and is unlikely to have a significant impact on the overall financials or operations of Deepak Nitrite Limited.
The announcement is about an internal transaction between subsidiaries, with no clear positive or negative implications for the parent company.
* Deepak Chem Tech Limited (DCTL), a wholly-owned subsidiary of Deepak Nitrite Limited, has allotted 68,00,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS) to Deepak Phenolics Limited (DPL), another wholly-owned subsidiary. * The OCRPS have a face value of ₹100 each, aggregating to ₹68 Crore. * The allotment aims to strengthen DCTL's capital base and support its project expenses and general corporate purposes. * The turnover of DCTL during FY 2024-25 was ₹9.43 Crore.
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Deepak Nitrite Limited filed this with the NSE as a statutory disclosure, categorised under corporate actions. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Deepak Nitrite Limited. Read the original for the full detail.