Deepak Fertilisers & Petrochemicals Corporation’s (DFPCL) wholly owned subsidiary – Smartchem Technologies (STL) has decided to acquire majority stake in Performance Chemiserve (PCPL), a company engaged in packaging services to the chemical industry since 2006.
STL proposes to take up to 76% equity stake in PCPL by way of a fresh issue to fund further growth. After the acquisition of shares by STL, PCPL would become the subsidiary of STL and step-down subsidiary of DFPCL.
Deepak Fertilisers and Petrochemicals Corporation is a manufacturer of fertilizers. The company’s segments include Chemicals, which offers products, such as ammonia, methanol, dilute nitric acid (DNA), concentrated nitric acid (CAN), carbon dioxide (CO2) etc.