Deep Industries has received an official amendment to its provisional business suspension, allowing the company to resume several critical service operations in the oil and gas sector. The amendment, dated March 19, 2026, significantly expands the scope of permitted activities.

Official Amendment Details

The company filed a regulatory disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, informing stock exchanges about the amendment received on March 19, 2026. This follows the company's earlier intimation dated February 13, 2026, regarding the original suspension.

Expanded Service Categories Now Permitted

The revised suspension terms now allow Deep Industries to operate across multiple service categories:

Business Impact and Company Position

This amendment represents a significant development for Deep Industries, as these services form core components of oil and gas sector operations. The company's ability to resume these critical services should help maintain its operational presence in the energy sector.

The company continues to maintain that the provisional suspension was unwarranted and remains confident of a favorable resolution based on the merits of its case. The expanded list of permitted services now includes specialized equipment hiring services, demonstrating the comprehensive nature of the company's operations in the oil and gas sector.

Regulatory Compliance

The disclosure was signed by Company Secretary and Compliance Officer Shilpa Sharma and filed with both BSE Limited (Scrip Code: 543288) and National Stock Exchange of India Ltd. (Symbol: DEEPINDS), ensuring full regulatory compliance and transparency with stakeholders.

Deep Industries Limited has officially entered into a Memorandum of Understanding (MOU) with Advait Greenenergy Private Limited (AGPL) for Green Hydrogen projects, as disclosed under Regulation 30 of SEBI Listing Regulations. The strategic partnership aims to jointly bid for and execute Green Hydrogen project tenders issued by government bodies, PSUs, private entities, and other organizations in India and abroad.

Official MOU Details

The company filed the regulatory disclosure on March 13, 2026, informing BSE and NSE about this strategic business growth initiative. The MOU establishes a framework for collaboration between both companies to participate in the growing Green Hydrogen market segment.

Scope of Business Operations

The partnership will focus on jointly bidding for Green Hydrogen project tenders floated by major PSUs including NTPC, SECI, IOC, HPCL, BPCL, GAIL, state utilities, and other entities. The collaboration covers preparation and submission of joint bid proposals, technical submissions, financial responses, and project execution upon award.

Financial and Strategic Terms

No upfront consideration has been paid for entering into this strategic tie-up, with respective parties being responsible for their identified scope of work. The transaction is not classified as a related party transaction, ensuring arm's length dealing between the entities.

Market Positioning and Benefits

This collaboration positions Deep Industries to capitalize on the expanding Green Hydrogen market opportunities. The partnership seeks to harness the combined strengths of both companies to enhance business opportunities in the renewable energy sector, particularly in government and PSU-driven Green Hydrogen initiatives across India and international markets.