Deccan Gold Mines Secures Rs 40 Crore Debt Funding from Godawari Power & Ispat Limited
Deccan Gold Mines Limited has completed the documentation for availing debt funding amounting to Rs 40 Crore from Godawari Power & Ispat Limited. The agreement details were disclosed, specifying the terms and intended use of the funds by the borrower.The loan transaction involves Deccan Gold Mines Limited as the Borrower and Godawari Power & Ispat Limited as the Lender. The purpose for which the funds will be utilized is to finance the completion and development of the Altyn Tor Gold Project, which is being undertaken by Avelum Partner LLC, a subsidiary of Deccan Gold in the Kyrgyz Republic. Additionally, the loan proceeds are allocated for other project development, working capital, and general administrative purposes.
The agreement outlines specific terms regarding tenure and interest structure. The tenure of the debt funding is 12 months. The interest rate set for the loan is 12% per annum, which will be compounded quarterly. Payments are required not later than 7 days before the end of each respective quarter.
Deccan Gold Mines Limited secured the financing through a pledge of 5,00,000 equity shares it holds in Geomysore Services (India) Private Limited. The parties involved confirmed that neither is related to the promoter or the promoter group and that the transaction is not classified as a related party transaction, being conducted at arm's length.
Key details of the debt funding agreement are summarized below:
| Particulars | Details |
|---|---|
| Borrower | Deccan Gold Mines Limited |
| Lender | Godawari Power & Ispat Limited |
| Amount of Loan | Rs 40 Crore |
| Date of Agreement | June 05, 2026 |
| Nature of the Transaction | Debt Funding |
| Tenure | 12 months |
| Interest Rate | 12% per annum (quarterly compounding) |
| Security Provided | Pledge of 5,00,000 equity shares in Geomysore Services (India) Private Limited |
DECNGOLD Stock Price Movement
Deccan Gold Mines Limited closed today, edging higher as shares gained 0.68% to settle at ₹170.06. The stock saw robust trading activity in the session, with over 1.6 million shares traded across all exchanges.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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