Deccan Gold Mines Ltd receives further funding of Rs. 34.20 crore

Deccan Gold Mines Ltd has secured further funding of INR 34.20 crore by way of loan from Ardent Steel Private Limited, Chhattisgarh (“Ardent”) (Hira Group Company) for its business operations. It may be noted that with this further funding, the Company has availed an amount of INR 50 crore by way of loan from Ardent.

This further funding will be primarily utilised for making equity investment into Geomysore Services (India) Private Limited, India (GMSI). Shareholders may refer to our market update made on July 23, 2023 for more details in this regard.

As shareholders are aware, the Company is raising funds of INR 48 crore (approx.) by issue of equity shares / equity warrants which was approved by the shareholders at their EGM held on August 2, 2023 and the process is expected to be completed upon receipt of statutory / regulatory approvals.

Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 87.75 as compared to the previous close of Rs. 87.32. The total number of shares traded during the day was 67152 in over 335 trades.

The stock hit an intraday high of Rs. 88.70 and intraday low of 86.00. The net turnover during the day was Rs. 5832925.00.

Source : Equity Bulls

Keywords

DECCANGOLDMINES INE945F01025 Mining Funding ArdentSteel