DEEPAK NITRITE LTD. - Outcome of Project Funding Committee Meeting

Deepak Nitrite Ltd has informed BSE that in respect of QIP which was opened by the Company on December 28, 2015 the Project Funding Committee of the Company has on January 01, 2016 approved the following:<BR><BR>a. Closure of issue period of the QIP on January 01, 2016;<BR><BR>b. Approved the issue price of Rs. 70.90 per Equity Share (including premium of Rs. 68.90 per equity share). The Floor price was Rs. 70.83 per Equity Share, in accordance with proviso to Regulation 85(1) of SEBI ICDR Regulations; and<BR><BR>c. Approved and adopted the Placement Document dated January 01, 2016 in connection with the QIP.