New Delhi, May 25 (PTI) Deepak Fertilisers and Petrochemicals Corporation Ltd (DPFCL) on Monday said its board has approved raising of Rs 180 crore through rights issue.

A committee in this regard has been constituted to decide the pricing of the issue, ratio, record date, appointment of monitoring agency, advertising agency and other things as may be required in accordance with the applicable laws, the company said in a regulatory filing.

Also Read | 2020 Skoda Karoq SUV Launching in India Tomorrow; Expected Prices, Features & Specifications.

In the meeting held on May 25, the company said the Board of Directors "have considered and approved raising of funds by way of issue of equity shares to the existing equity shareholders of the company on rights basis (Rights Issue) for an issue size of upto Rs 180 crore".

The promoter and promoter group of the company have confirmed they will subscribe to the full extent of their aggregate rights entitlement, the filing added.

Also Read | Realme Smart TV With Android Support Launched in India at Rs 12,999; First Sale on June 2 at 12PM Via Flipkart & Realme.com.

Set up in 1979 as an Ammonia manufacturer, DFPCL today,  is a publicly listed, multi-product Indian conglomerate with a portfolio spanning industrial chemicals, bulk and specialty fertilisers, technical ammonium nitrate and value-added real estate.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)