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Deepak Fertilisers gains on fixing rights issue price at Rs 133 per share

Capital Market 

Deepak Fertilisers & Petrochemicals Corporation rose 1.36% to Rs 163.50 after the company said its board on Friday (11 September 2020) approved the terms of proposed rights issue of equity shares.

On 25 May 2020, the company's board approved a proposal to raise up to Rs 180 crore through a rights issue.

The issue price has been fixed at Rs 133 per share carrying a face value of Rs 10 each. The eligible shareholders will be entitled to apply for three shares for every 20 equity shares held by them as on the record date. The full amount of issue price will be payable on application. 17 September 2020 will be the record date for the purpose of determining the shareholders who will be eligible to apply in the rights issue.

Deepak Fertilisers and Petrochemicals Corporation is a manufacturer of fertilizers and chemicals.

The company's consolidated net profit surged 1,032.10% to Rs 121.14 crore on 23.2% increase in net sales to Rs 1,382.08 crore in Q1 June 2020 over Q1 June 2019. EBITDA margin improved to 19.7% in Q1 FY21 as against 10.7% in Q1 FY20.

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

First Published: Mon, September 14 2020. 09:45 IST