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Board of Deepak Fertilizers & Petrochemicals Corp approves terms for rights issue

Capital Market 

At meeting held on 11 September 2020

Deepak Fertilizers & Petrochemicals Corp announced that the Board of Directors of the company at its meeting held on 11 September 2020 approved the following terms for the proposed issue of rights shares aggregating Rs 180 crore -

Issue price - Rs. 133/- per fully paid-up equity share (including a premium of Rs. 123/- per fully paid-up equity share over the face value of Rs. 10 per equity share).

Terms and payment of issue price: The full amount of issue price being Rs. 133/- per rights equity share will be payable on application.

Record date: The Board also fixed the record date for the purpose of determining the shareholders of the Company who will be eligible to apply in the Issue, as 17 September 2020.

Rights entitlement ratio: 3 (three) fully paid-up equity shares for every 20 (twenty) fully paid-up equity shares held by the eligible equity shareholders of the Company, as on the record date.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 14 2020. 13:56 IST