Chemical
Deepak Fertilisers allots rights shares
Company has approved allotment of 1,33,92,663 equity shares at a price of Rs.133 per equity share.
- By ICN Bureau
| October 20, 2020
The Rights Issue Committee of Deepak Fertilisers and Petrochemicals Corporation Limited, at its meeting held today, i.e., October 20, 2020, has considered and approved the allotment of 1,33,92,663 equity shares at a price of Rs.133 per equity share (including a premium of Rs.123 per equity share) after the finalisation of the basis of allotment of the Issue, in consultation with the designated stock exchange, BSE Limited.
Accordingly, pursuant to the allotment, the paid-up equity share capital of the company has increased to Rs.1,02,67,70,880 divided into 10,26,77,088 equity shares of Rs.10/- each.
Based on a good response from the market, company's rights issue got oversubscribed and the management thanked all the shareholders for their participation in the rights issue and reposing their trust on the company.
The issue price was fixed at Rs. 133/- per fully paid-up equity share which included 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 included the full amount of issue price being Rs. 133/- per rights equity share to be payable on application.
The company also reported huge jump in its first quarter sales and profits despite the COVID-19 pandemic. It's revenue grew by 23.16% YoY and stood at Rs 1,382 crore from Rs 1,122.2 crore in Q1 FY20.
Consolidated net profit stood at Rs 121.14 crore which rose by 1032.15%, as compared to Rs 10.7 crore in the same quarter last year. The net profit margin in Q1FY21 came in at 8.77% which rose 7.82% YoY. The net profit margin for Q1FY20 was at 0.95%.
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