Robust Marketing Services Private Limited has disclosed a series of share acquisitions in Deepak Fertilisers and Petrochemicals Corporation Limited. The disclosures were made to the stock exchanges under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquirer belongs to the promoter group of the target company.

The transactions involved the purchase of equity shares carrying voting rights through the open market. The acquisitions occurred over several days in March 2024, resulting in a gradual increase in the acquirer's shareholding percentage. The total equity share capital of the target company is stated as 12,62,37,825 equity shares of Rs. 10 each.

Acquisition Details

The following table summarizes the share acquisitions made by Robust Marketing Services Private Limited:

Holding Status

Prior to the acquisitions disclosed on March 19, 2024, the acquirer held 1,08,52,301 shares, representing 8.5967% of the total share capital. Following the final transaction on March 26, 2024, the total holding increased to 1,10,67,301 shares. This represents 8.7670% of the total paid-up equity share capital of the target company.

The shares of Deepak Fertilisers and Petrochemicals Corporation Limited are listed on BSE Limited and National Stock Exchange of India Limited. The acquirer confirmed that there were no shares encumbered or voting rights held otherwise than by equity shares during the period of these acquisitions.

Deepak Fertilisers & Petrochemicals Corporation Limited has disclosed, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has received a penalty order from the Deputy Commissioner of State Tax, Nodal-3, Pune. The order was collected by the company in person on 11th May 2026 at 11:30 am, and the disclosure was made to the stock exchanges on 12th May 2026.

Details of the Tax Demand Order

The order, bearing reference no. PUN-NOD-E-307/27040000023V/VAT 2026-27/B-242 and dated 31st March 2026, raises a total MVAT demand of Rs. 74,89,20,261/-. The demand is broken down into three components as detailed below:

Nature of the Dispute

The company has stated that there is no violation or contravention on its part. According to the disclosure, the tax department erred in levying an MVAT rate of 13.5% on the sale of Natural Gas to the subsidiary company, instead of the applicable rate of 3% under MVAT. The company has clarified that the rate of 3% was applicable for the purchase of natural gas for captive consumption against Proforma A, which was procured and submitted for this transaction by the subsidiary company.

Company's Position and Next Steps

Deepak Fertilisers and Petrochemicals Corporation Limited has asserted that the aforesaid demand is not tenable and is liable to be set aside in appeal. The company has stated it intends to challenge the order at an appropriate forum. The key details of the order and the company's stated position are summarised below:

The company has confirmed that there is no material impact on its financials, operations, or other activities as a result of this order. The disclosure was signed by Rabindra Purohit, VP – Legal, Compliance & Company Secretary, on 12th May 2026.