Deccan Gold Mines Ltd has unveiled details of its upcoming rights issue, setting the entitlement ratio at 150 equity shares for every 601 shares held. The issue price has been fixed at Rs 80 per share, aimed at raising funds to support exploration and development projects.
Deccan Gold Mines Ltd, India’s only listed gold exploration company, has announced the terms of its rights issue to existing shareholders. The company disclosed that shareholders will be entitled to 150 rights equity shares for every 601 shares held, with the issue price fixed at Rs 80 per share. This fundraising initiative is expected to provide capital for ongoing exploration, project development, and operational expansion.
Key highlights from the announcement include
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Entitlement ratio set at 150 rights equity shares for every 601 shares held.
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Rights issue price fixed at Rs 80 per share.
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The issue is aimed at strengthening the company’s financial position and supporting exploration activities.
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Funds raised will be directed toward project development and operational expansion in India’s gold sector.
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The rights issue provides existing shareholders an opportunity to increase their stake at a discounted price.
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Analysts note that the move reflects Deccan Gold Mines’ strategy to accelerate growth in India’s underdeveloped gold mining industry.
This rights issue marks a significant step for Deccan Gold Mines as it seeks to mobilize resources for its long-term vision of becoming a leading player in India’s gold exploration and mining sector.
Sources: Reuters, Business Standard, Economic Times