Stock Report

Deccan Gold Mines clears all debt with ₹314 Cr Rights Issue funds, ushering in Debt-Free era

Posted On : 2026-01-05 10:07:52( TIMEZONE : IST )

Deccan Gold Mines Limited ("Deccan Gold") has announced that, following the successful closure of its ₹314.70 crore Rights Issue on December 26, 2025, the Company has fully repaid all outstanding loans along with accrued interest to its lenders. This marks a significant milestone in Deccan Gold's journey toward financial resilience and growth.

Details of Loan Repayment:

- Rs. 75 crore - Ardent Steels Private Limited
- Rs. 120 crore - Godawari Power & Ispat Limited
- Rs. 8 crore - Hira Ferro Alloys Limited
- Interest amounts due till January 2, 2026, as confirmed by the lenders, have also been settled.

With these repayments, Deccan Gold has become debt-free, delivering on its commitment stated in the Rights Issue offer document. The Company is now working with Hira Group to complete procedural formalities, including filing satisfaction of charge and release of pledged shares of Geomysore Services India Private Limited.

We believe that the loan repayment will:

- Strengthen our balance sheet and improve capital efficiency
- Enhance financial flexibility to accelerate project execution
- Increase investor confidence and long-term value creation

Comment from Dr. Hanuma Prasad Modali, Managing Director: "Becoming debt-free is a defining moment for Deccan Gold. This achievement not only strengthens our financial position but also empowers us to accelerate investments in exploration and production. With key assets moving into production and a robust pipeline of projects, we are poised for a high-growth phase that aligns with our vision of building a globally relevant Indian mining enterprise."

Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 94.53 as compared to the previous close of Rs. 93.56. The total number of shares traded during the day was 589177 in over 3270 trades.

The stock hit an intraday high of Rs. 95.20 and intraday low of 93.50. The net turnover during the day was Rs. 55589465.00.