Shares of Deepak Fertilisers and Petrochemicals Company Ltd surged 2% on 18 February after the corporate’s wholly-owned subsidiary, Deepak Mining Options Ltd, raised its stake in an Australian subsidiary, Platinum Blasting Companies Pty Ltd, from 65% to 85%.
The deal, price Rs 64.1 crore (AUD 11.78 million), entailed buying shares from current stakeholders.
Platinum Blasting Companies, a dividend-generating subsidiary, delivers end-to-end mining options. This acquisition helps DMSL’s strategic shift from a commodity-focused enterprise to a full-spectrum mining options supplier.
In its regulatory submitting, the corporate stated, “The stated enhancement of shareholding by DMSL in its dividend-paying subsidiary has been consummated primarily based on valuation steerage report from one of many Huge 4 accounting companies in Australia, primarily based on earnings a number of.”
The submitting added, “We’ve obtained the affirmation from Platinum Blasting Companies Pty Ltd. relating to the approval of the switch of aforesaid shares immediately i.e. 17 February 2025, round 01:33 pm.”
At 2:25 pm, the shares of Deepak Fertilisers had been buying and selling 3.67% decrease at Rs 949.50 on NSE.
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