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Deepak Fertilisers Increases Stake in Australian Subsidiary Platinum Blasting Services

Written by: Team Angel OneUpdated on: Feb 18, 2025, 3:12 PM IST
Deepak Fertilisers subsidiary, DMSL, has raised its stake in Platinum Blasting Services from 65% to 85% for AUD 11.78 million.
Deepak Fertilisers Increases Stake in Australian Subsidiary Platinum Blasting Services
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) has strengthened its presence in the Australian mining solutions market. On 17 February 2025, its wholly-owned subsidiary, Deepak Mining Solutions Ltd (DMSL), increased its stake in Platinum Blasting Services Pty Ltd from 65% to 85%.

Strategic Investment for Expansion

The transaction, valued at AUD 11.78 million (₹64.1 crore), involved acquiring shares from existing stakeholders. Platinum Blasting Services, a profitable and dividend-paying entity, plays a key role in providing end-to-end mining solutions. This acquisition aligns with DMSL’s long-term strategy of evolving from a commodity-driven model to a full-fledged mining solutions provider.

Valuation and Regulatory Approval

The share purchase was executed based on an earnings multiple valuation, as per guidance from a Big 4 accounting firm in Australia. The deal received formal approval from Platinum Blasting Services Pty Ltd on 17 February 2025 at 1:33 p.m., as confirmed in a stock exchange filing.

Deepak Fertiliser Share Performance

As of February 18, 2025, at 12:55 PM, the shares of Deepak Fertiliser are trading at ₹948.00 per share, down 3.73% from yesterday’s closing price. Over the last month, the stock has declined by 19.30% and over the last year it has surged by 92%. The stock’s 52-week high is ₹1,443.10 and its low is ₹450.00.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Feb 18, 2025, 3:12 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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