Deepak Nitrite Limited announced that at its board meeting held on October 4, 2023, approved incorporation of new wholly owned subsidiary ("WOS") of the Company and investment up to INR 50 million in the Equity Capital of proposed WOS, from time to time, in one or more tranches. The proposed WOS shall engage in the business of inter alia providing Project Engineering, Procurement, Construction, Commissioning, Management and Consultancy services.