Deepak Fertilisers & Petrochemicals Corporation Ltd Board approves Rights Issue of equity shares

The Board of Directors of Deepak Fertilisers & Petrochemicals Corporation Ltd at their meeting held on May 25, 2020, have considered and approved raising of funds by way of issue of equity shares to the existing equity shareholders of the Company on rights basis (Rights Issue) for an issue size of upto Rs. 180 crore.

Further, the Board constituted Rights Issue Committee has been authorised to decide the pricing of the issue, ratio, record date, appointment of monitoring agency, advertising agency and other things as may be required in accordance with the applicable laws.

The promoter and promoter group of the Company have confirmed they will subscribe to the full extent of their aggregate rights entitlement.

Shares of DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION LTD. was last trading in BSE at Rs.99.55 as compared to the previous close of Rs. 99.9. The total number of shares traded during the day was 42692 in over 1447 trades.

The stock hit an intraday high of Rs. 102.6 and intraday low of 98.5. The net turnover during the day was Rs. 4281177.

Source : Equity Bulls

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