Multibagger Energy Sector Company Acquired 74% Stake In Breitling Drilling Private Ltd

Deep Industries Limited in an exchange filing has informed that it has acquired the majority 74% equity stake of Breitling Drilling Private Limited and consequently, it becomes a subsidiary of Deep Industries Limited.

Breitling Drilling Private Limited (BDPL) is a Private Limited Company engaged in the business of providing and operating rigs, vessels, ships, structure, oil/ gas/ CBM/ shale/ hydrocarbons field services such as mud engineering, mud logging, cementing, hydro-fracturing, work-over, testing, wire line logging inspection, repairs and reconditioning of tubular, and handling of oil for oil and natural gas industry in India. Deep Industries Limited (DIL) has made investment of Rs. 7,400/- (Rupees Seven Thousand Four Hundred only) by subscribing 740 (Seven Hundred Forty) equity shares in BDPL of Rs. 10 each. Total paid up Equity Share Capital of BDPL as on date is ₹10,000/- (Rupees Ten Thousand Only) and the Total income of BDPL for the Financial Year ended on March 31, 2023 (unaudited) is Nil, Deep industries stated in the exchange filing.

"Pursuant to regulations 30 read with Schedule III of the Securities Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations 2015, we would like to inform you that Deep Industries Limited ("The Company") have acquired (74%) equity stake of Breitling Drilling Private Limited and consequently it becomes a subsidiary of Deep Industries Limited," Deep Industries Ltd. said in an exchange filing.

Stock Movement

On Wednesday, the stock of Deep Industries soars 2.85%, closed at Rs 196.35 apiece on BSE. It traded its 52-week high on Jul 10, 2023, at Rs 203.65 apiece and 52-week low on Aug 11, 2022, at Rs 88.55 apiece, respectively.

The stock witnessed a 10.56% jump in price in the past 1 week, while 9.20% in the past 1 month. It jumped 39.85% in the past 3 months. It has given 103.68% multibagger return in the past 1 year. It gave 291.68% positive return in the past 2 years.

About - Deep Industries Ltd. (DIL)

Deep Industries Ltd. (DIL) is a small-cap Offshore Support Solution Drilling company. DIL is specialized in providing Air & Gas Compression Services, Drilling and Workover Services, Gas Dehydration Services, and also has expertise in Integrated Project Management Services. It has a market capitalisation of Rs 1,256.64 Crore.