Deepak Fertilisers incorporates subsidiary in Singapore to expand global trading footprint
By News Desk Published on April 23, 2025, 18:03 IST
Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) announced on April 23, 2025, the incorporation of its wholly owned subsidiary 'Deepak Globalchem Pte. Ltd.' in Singapore. The move is aimed at strengthening the company's global presence in the commodities trading business.
The newly formed entity, Deepak Globalchem Pte. Ltd., has been set up with an initial capital investment of USD 10,000. The subsidiary will primarily focus on the purchase and sale of commodities, expanding DFPCL's reach beyond Indian markets. Although the company has been incorporated, it is yet to commence business operations.
As per regulatory disclosures, the promoters or promoter group of DFPCL hold no direct interest in the new entity beyond their stake in the parent company. The incorporation is classified as a related-party transaction under SEBI regulations due to the wholly owned nature of the subsidiary.
The company stated that the establishment of this subsidiary marks a strategic step in its global expansion and aligns with its long-term business objectives. With Singapore being a global trading hub, the new arm is expected to enhance DFPCL's access to international markets and facilitate more efficient trading operations.
The announcement was made at 3:11 PM on April 23, 2025, and further details are available on the company's official website.
Disclaimer: This news article is for informational purposes only and does not constitute investment advice. Investors are advised to consult their financial advisors before making any investment decisions.
News desk at BusinessUpturn.com
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