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Deepak Fertilisers subsidiary MAL to allot equity shares

February 25, 2025 at 07:02 PM UTCBy FilingReader AI

Deepak Fertilisers & Petrochemicals Corporation Limited (DEEPAKFERT) announced that the Securities Issue Committee of its material subsidiary, Mahadhan AgriTech Limited (MAL), approved the allotment of 14,90,439 equity shares to the company. This allotment follows the conversion of 2,100 Compulsorily Convertible Debentures (CCDs) held by Deepak Fertilisers. The equity shares, with a face value of Rs.10 each, are being issued at a premium of Rs.1970 per share. This conversion, valued at Rs. 2,95,10,69,212/-, keeps Deepak Fertilisers’ shareholding in MAL at 100%. MAL, which manufactures NPK and specialty fertilizers, reported a turnover of Rs. 4,159.21 Crores as of March 31, 2024. The company confirmed that the allotment is an related-party transaction and is being executed at arm's length.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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