Deepak Nitrite Limited — Capital/Financing Update 2020

Mar 4, 2020

DN L/ 1 38 / BSE | 1 093 / 2020 March 4,2020

Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers, DataI Street, MUMBAT - 400 001

Dear Sir,

Scrip Code: 506401

Sub: Outcome of the Board Meetine

This is to inform you that the Board of Directors at their Meeting hetd today i.e" 4th March, 2020 approved to invest not exceeding 20% equity capital of Deepak Oman Industries FZC LLC ('DOIL'), a Limited Liabitity Company incorporated in Sultanate of Oman, amounting to an investment of approx. USD 7.71 mittion, in one or more tranches"

The detaits as required under Regutation 30 of Securities and Exchange Board of India (Listing Obtigations and Disclosure Requirements) Regutations, 2015 read with SEBI's Circutar No. CIR/CFD/CMD4/2015 dated September 9,2015 is enctosed as Annexure-A.

The Meeting of Board of Directors commenced at 12:30 P.M. and conctuded at 5:30 P.M.

We request you to kindty take the above on record.

Thanking you,

Yours For ITE LIMITED faithfutty

Enct: As above

DEEPAK NITRITE LIMITED

CIN: 124110GJ1970P1C001735 Registered & Corporate Office: Aaditya - l, Chhani Road, Vadodara-390 024. Gujarat, India. Te(: +91 265 276520013960200 | Fax: +91 2652765344 Investor Relations Contact: investo16> godeepak.com www.godeepak.com

Annexure - A

As required under Regulation 30 of the Listing Regulations, as amended, read with SEBI circular no" CIR/CFD|CMD|4|1O1i dated September 9, 2015 detaits are given below:-

Sr.	Partie ulars	Details
No. 1.	Name of the target entity, detaits in brief such as size, turnover etc.	Deepak Oman Industries FZC LLC ('DOIL'), a company incorporated in Suttanate of Oman. The present paid up capital of DOIL is 16,57,195 Equity Shares of Omani Riyat (RO) 1 each. DOIL is yet to start its commercial activities.
z"	Whether the acquisition woutd fatt within Retated Party Transaction(s) (RPT) and whether the Promoter/ Promoter Group/ Group Companies have any interest in the entity being acquired?	DOIL is a Retated Party as per relevant provisions of Indian Accounting Standards.
	lf yes, nature of interest and detaits thereof and whether the same is done at "arms tength".	The proposed investment in DOIL witt be made at "arms length".
3.	Industry to which the entity being acquired betonqs	Chemical Industry
4.	Objects and effects of acquisition (inctuding but not timited to, disctosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entitv)	Equity stake in an upcoming Inorganic Chemicats manufacturing company which benefits from low cost inputs of raw materials and energy and ptans to serve the elobal markets.
5.	Brief detaits of any governmental or regutatory approvats required for the acouisition	No governmental or regulatory approvats is required for the said investment.
6"	Indicative time period for comptetion of the acquisition	The purported investment is in the Greenfietd project and the investment would be done in two to three vears' time.
7.	Nature of consideration - whether cash consideration or share swap and detaits of the same
)EEPAK legistered \aditya-1, -et: +9r nvestor	DEEPAK NITRITE I. LIMITED -lN: 124110GJ1970P1C001735 CIN: 124110GJ1970P . Registered & Corpori Corporate Office: Aaditya - l, Chhani Ro, Road, Vadodara-390 024. Gujarat, India. 5200/396 0200 Fax: +91 265 2765344 Tet: +91 265 276 5200/ Contact: investor@ godeepak.com lnvestor Relations Co	.s\$rf tA: -\ @
www.godeepak.co m

Sr. No.	Particulars	Details
8.	Cost of acquisition or the price at which the shares are acquired	Such number of Equity Share of RO 1 each, at par, not exceeding 20% of total Equity share capital of DOIL, amounting to investment of approx. USD 7.71 million.
9.	Percentage of shareholding / control acquired and / or number of shares acquired	Not exceeding 20% of total equity capital of DOIL.
10.	Brief background about
	The entity acquired in terms of products/line of business acquired,	DOIL is setting up a project to manufacture Chlor-Alkali and downstream products including inorganic salts such as Hypochlorites, Calcium Chloride, Sodium Nitrite, Sodium Nitrate etc. in Salalah Free Zone.
	Date of Incorporation	13 th April, 2014.
	History of last three (3) years Turnover	NA.
	Country in which the acquired entity has presence and any other significant information (in brief)	Presently, DOIL is not carrying out any activities and is intending to set up a Greenfield project in Salalah Free Zone, Sultanate of Oman.

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DEEPAK NITRITE LIMITED

CIN: L24110GJ1970PLC001735 Registered & Corporate Office: Aaditya-I, Chhani Road, Vadodara-390 024. Gujarat, India. Tel: +91 265 276 5200/396 0200 | Fax: +91 265 276 5344 Investor Relations Contact: investor@godeepak.com www.godeepak.com