Deep Industries said that its board has approved a proposal for raising of funds by way of issuance of equity shares for an aggregate amount not exceeding Rs 350 crore through qualified institutions placement (QIP) in one or more tranches.
The announcement was made on Saturday, 28 December 2024.
Deep Industries is a leading provider of energy solutions. The company specializes in air and gas compression services, drilling and workover services, gas dehydration services, and integrated project management services. The company's comprehensive portfolio includes various machines, equipment, and tools used in the oil and gas industry from exploration and production services to midstream services.
The companys net profit jumped 30.8% to Rs 38.41 crore on a 28.9% increase in net sales to Rs 130.62 crore in Q2 FY25 over Q2 FY24.
The scrip had gained 1.19% to end at Rs 551.15 on the BSE on Friday.
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