iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Deepak Fertilizers to demerge chemicals & fertiliser business

16 Dec 2022 , 12:23 PM

The Board of Directors of Smartchem Technologies Limited approved a Corporate Restructuring Plan with the goal of unlocking the growth potential of each of the businesses.

STL is a wholly owned subsidiary of Deepak Fertilisers and Petrochemicals Corporation Limited (DFPCL), one of India’s leading manufacturers of industrial chemicals and fertilisers.

The board of directors approved the composite scheme of the arrangement, which highlights demerger of TAN business (Mining Chemicals) from STL to Deepak Mining Services Private Limited (DMSPL), Deepak Fertilisers and Petrochemicals Corporation Limited’s  (DFPCL) wholly owned subsidiary.

It also approved the amalgamation of Mahadhan Farm Technologies Private Limited (MFTPL), being a wholly owned subsidiary of STL, with STL.

The company stated that the draft scheme of the merger is subject to customary, statutory, and regulatory approvals, including the approvals of respective shareholders and creditors, the NCLT, and any other regulators that may be required.

Following this development, Deepak Fertilizers was trading at Rs836 up by 2.9% from its previous closing of Rs812.40 on the BSE. The scrip touched an intraday high and low of Rs861 and Rs817.10 respectively.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Deepak Fertilisers Demerger
  • Deepak Fertilisers News
  • Deepak Fertilisers Stock
  • Deepak Fertilisers Updates
  • Demerger News
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.