Mumbai, January 5, 2026: Deccan Gold Mines Limited (BSE: 512068) has achieved a key financial milestone by becoming completely debt-free 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, significantly strengthening its balance sheet and capital structure.
Loan Repayment Details
The company confirmed that it has settled all principal amounts owed to its lenders, along with interest dues calculated up to January 2, 2026. The repayments include:| Lender | Amount Repaid (₹ crore) |
|---|---|
| Ardent Steels Private Limited | 75.00 |
| Godawari Power & Ispat Limited | 120.00 |
| Hira Ferro Alloys Limited | 8.00 |
| Total | 203.00 |
Strengthened Balance Sheet and Financial Flexibility
Following the debt repayment, Deccan Gold Mines is now working with the Hira Group to complete remaining procedural steps, including the filing of satisfaction of charge and the release of pledged shares of Geomysore Services India Private Limited. This move is expected to further streamline the company’s financial and ownership structure.Management highlighted that becoming debt-free is expected to improve capital efficiency, enhance financial flexibility, and support faster execution of ongoing and upcoming projects.
Management Commentary
Dr. Hanuma Prasad Modali, Managing Director, said that achieving a debt-free status marks a defining moment for the company. He noted that the strengthened financial position will enable accelerated investments in exploration and production, while supporting the transition of key assets into production and advancing a robust project pipeline.About the Company
Deccan Gold Mines Limited is an India-focused gold exploration and mining company listed on the BSE. The company is engaged in the acquisition, exploration, and development of gold assets, with a strategic focus on building a globally relevant Indian mining enterprise through disciplined capital allocation and long-term project development.Source:
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