Deepak Nitrite Ltd approves QIP

The Board of Directors of Deepak Nitrite Ltd at their meeting held today i.e.11th December, 2017 has considered and approved the proposal for raising of funds by way of Qualified Institutions Placement of equity shares in accordance with the provisions of Chapter VIII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time and other applicable laws, up to an amount not exceeding Rs. 150 Crores, subject to approval of members of the Company.
The Board approved proposal to conduct Postal Ballot for obtaining the authority / approval of the members of the Company for raising funds through Qualified Institutions Placement as mentioned above.

The Board Meeting commenced at 11:30 A.M. and concluded at 1:00 P.M.

Shares of DEEPAK NITRITE LTD. was last trading in BSE at Rs.204.5 as compared to the previous close of Rs. 204.75. The total number of shares traded during the day was 28059 in over 448 trades.

The stock hit an intraday high of Rs. 207.75 and intraday low of 203. The net turnover during the day was Rs. 5735523.

Source : Equity Bulls

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