Davangere Sugar Company Approves Allotment of Foreign Currency Convertible Bonds (FCCBs)
Davangere Sugar Company Limited announced that its Board of Directors approved the allotment of Unsecured Foreign Currency Convertible Bonds (FCCBs) following receipt of subscription money. The decision was made during a board meeting held on July 9, 2026.The company confirmed that it received subscription money aggregating to USD 85 Million for the bonds. The FCCB issuance is set against an issue size of USD 100 Million and was offered at a 15% discount of the issue price.
The Board meeting considered and approved the terms for these convertible securities, which have specific features regarding their tenure and returns.
Key details regarding the Foreign Currency Convertible Bonds (FCCBs) include:
| Security Type | Foreign Currency Convertible Bonds (FCCBs) |
|---|---|
| Aggregate Issue Size | USD 100 Million |
| Number of FCCBs Allotted | 1,000 |
| Face Value per Bond | USD 100,000 |
| Coupon Rate | 2% per annum |
| Tenure/Maturity Date | Up to 5 Years (60 Months), maturing on July 9, 2031 |
| ISIN | MU0000000388 |
The allotment is confirmed after the successful subscription process.
DAVANGERE Stock Price Movement
Davangere Sugar Company Limited closed today having edged up by 0.28%, settling at ₹3.57 in the post-market session. The stock saw active trading, with over 3.18 million shares transacting during the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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