Deepak Fertilisers arm to acquire 76 per cent stake in PCPL

DFPCL's wholly owned subsidiary - Smartchem Technologies Limited (STL) has decided to acquire majority stake in Performance Chemiserve Private Limited (PCPL).

Deepak Fertilisers & Petrochemicals Corporation's (DFPCL) is among India's leading producers of industrial chemicals and fertilisers. It is India's largest and world’s 5th largest Technical Ammonium Nitrate (TAN) manufacturer. Its business can be classified into- chemicals (methanol, ammonia and various grades of nitric acid), agri business (nitrophosphate fertilizer) and specialty retailing (ishanya).

Performance Chemiserve Private Limited is classified as a non-government company involved in manufacturing and packaging services to the chemical industry since 2006.

Smartchem Technologies proposes to take upto 76 per cent equity stake in Performance Chemiserve Private Limited by way of a fresh issue to fund further growth.

After this acquisition of shares, PCPL would become the subsidiary of STL and step-down subsidiary of DFPCL.

DFPCL has gained almost 18 per cent in last three months. In today's trade, shares of DFPCL is trading almost 3 per cent higher than yesterday's closing and touched intraday high of Rs.264.85 on NSE.