Deepak Nitrite: Focus on QIP plans

The board of Deepak Nitrite will meet on Monday to consider raising funds through a qualified institutional placement of equity shares. The funds will be used to finance its capital expenditure plans for its high-margin projects, which would improve its revenues and margins, going ahead, it said. The company has already raised ₹150 crore via a QIP in March 2017, of which, it has invested ₹64 crore for a phenol project. Investors will closely observe the quantum and floor price.