India: Deepak Fertilisers raises $68m through sale of shares

Source: Markus Winkler/Unsplash

Deepak Fertilisers and Petrochemicals Corporation Ltd on Friday informed that it has raised 510 crore through the issue of equity shares to institutional investors.

The company launched qualified institutional placement (QIP) issue on October 19. It was closed on Friday.

The securities issue committee of the board of directors at its meeting held on Friday approved the closure of the issue on October 22, the company said in its regulatory filing

“The committee determined and approved the “allocation of 1,24,39,029 equity shares at an issue price of 410 per equity share (including a premium of 400 per share)”.

The allocation to institutional buyers has been made at a discount of 12.48 per share, from the floor price of 422.48 per share.

The filing did not mention the proposed utilisation of funds raised through this QIP issue.

This article was first published on livemint.com.

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.