Deep Industries acquires 74% stake in Breitling Drilling Pvt Ltd

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.

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.

DIL is specialized in providing Air & Gas Compression Services, Drilling and Workover Services, Gas Dehydration Services, and also having expertise in Integrated Project Management Services. The proposed investment in BDPL is expected to bring more operational efficiencies of the Company. This investment will help DIL in developing more service offerings and strengthening the organization.

Source : Equity Bulls

Keywords

DeepIndustries StakeAcquisition BreitlingDrilling