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Last Updated : Apr 23, 2019 09:57 AM IST | Source:

Deepak Fertilisers adds 3% on board's approval to raise funds

At 0950 hrs, Deepak Fertilizers was quoting Rs 153.15, up 2.51 percent on the BSE.

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Bokaro Steel Plant
Bokaro Steel Plant

Shares of Deepak Fertilisers rallied more than 2 percent intraday on April 23 after the approved to raise up to $30 million via Foreign Currency Convertible Bonds.

The company in its BSE release said that the bonds will be granted in two tranches to International Finance Corporation (IFC) upon the opening of the issue by the Securities Issue Committee of Directors.

"The Board has further granted in-principle approval for issue of CCDs by Smartchem Technologies Limited (a wholly owned subsidiary of the company) aggregating up to $30,000,000 in two tranches to IFC," the company added.

At 0950 hrs, Deepak Fertilisers was quoting Rs 153.15, up 2.51 percent on the BSE.
First Published on Apr 23, 2019 09:56 am
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