Moneycontrol Be a Pro
Get App
Last Updated : Apr 16, 2019 10:18 AM IST | Source: Moneycontrol.com

Deepak Fertilisers rises 9% on start of commercial production at Dahej plant

The company to consider and approve issuance of FCCBs (Foreign Currency Convertible Bonds) by the company for an aggregate amount of USD 30 million.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Deepak Fertilisers and Petrochemicals Corporation rose 9.4 percent intraday Tuesday after company commenced commercial production of Nitric Acid Plant at Dahej, Gujarat.

The new facility, with project cost of approximately Rs 550 crore, has production capacities of 92 KTPA for Concentrated Nitric Acid (CNA) and 149 KTPA for Diluted Nitric Acid (DNA), company said in BSE filing

A meeting of the board of directors of the company and its wholly owned subsidiary Smartchem Technologies [STL] to be held on April 22, 2019 to consider and approve issuance of FCCBs (Foreign Currency Convertible Bonds) by the company for an aggregate amount of USD 30 million and issuance of CCD (Compulsorily convertible debentures) by the company's wholly owned subsidiary STL aggregating to USD 30 million to International Finance Corp (IFC), company said in press release.

Close

The aforesaid issues are post a detailed due diligence analysis of operations & growth plans of the Deepak Fertilisers group and post IFC's board approval of investment by way of USD 60 million in FCCB/CCD in the company and its subsidiary STL.

At 10:06 hrs Deepak Fertilizers and Petrochemicals Coprn was quoting at Rs 150.85, up Rs 12.35, or 8.92 percent on the BSE.

For more market news, click here

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Apr 16, 2019 10:18 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant
Make every wish come true
10% CashBack on Apparel
10% CashBack on Electronics
Swipe & Win iPhone 11 every hour