Deepak Nitrite Limited — Important, 16-04-2025: General Updates

Deepak Nitrite Limited's wholly owned subsidiary, Deepak Chem Tech Limited, has executed the allotment of 1,63,00,000 9% Optionally Convertible Redeemable Preference Shares (OCRPS) at face value of ₹100 each, aggregating to ₹163.00 Crores to another subsidiary, Deepak Phenolics Limited. This transaction, which maintains the company's 100% ownership in both entities, aims to bolster DCTL's capital base and support ongoing project expenses at its Fluorination plant operational since March 2024. DCTL, involved in the chemical industry, reported a turnover of ₹0.86 Crores for FY 2023-24. With this strategic financial move, the company positions itself for potential growth, enhancing its operational capabilities within its core business sector. Investors should keep an eye on the future developments stemming from this capital infusion.