Deepak Nitrite plans to raise up to Rs 150 crore via QIP

Published On: 11, Dec 2017 | Source: moneycontrol.com

Deepak Nitrite on Monday said its board has approved raising up to Rs 150 crore through sale of shares to institutional investors.

In a filing to the BSE, the company informed that the board of directors approved raising of funds by way of Qualified Institutions Placement (QIP) of equity shares up to Rs 150 crore.

The board approved conducting a postal ballot for obtaining the approval of the shareholders for QIP, the filing said.