Deep Polymers Bonus Shares Issue 2022

Deep Polymers bonus shares were decided and approved after the company’s board meeting held last Saturday 15th January 2022. The company approved  3 bonus shares for every 4 equity shares held at ₹10 face value. It also plans to raise ₹48 crores through a rights issue.

Deep polymers IPO

Owned by Ramesh Patel, Deep Polymers plans to set up a new manufacturing unit in about 33,600 square meters at Gandhinagar. The company aims to increase its authorized capital from ₹20 crores to ₹30 crores.

Deep Polymers announced the acquisition of Deep Plast at ₹55 crores in August 2021. On a consolidated basis, the total revenue is expected to be in the range of ₹200 crores for this financial year and profit between ₹13-15 crores. The company is also planning to target export markets for better margins.

The company with its new manufacturing unit primarily will stick to two products called black and color masterbatch which can be used in different types of fibres. The products of this unit will be exported to Germany and other European countries for making polyester and fabrics.

 

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