Deccan Gold Mines Secures INR 3 Crore Debt Funding from Modali Consultants

Deccan Gold Mines Limited has finalized documentation to secure a debt funding arrangement worth INR 3.00 crore from Modali Consultants LLP.

The capital infusion is earmarked specifically for the development of the company's ongoing projects.

Key Financial and Loan Terms

The bilateral agreement outlines a straightforward debt structure with the following primary conditions:

Loan Size: INR 3,00,000,000 (Rs. 3 Crore)

Tenure: 12 months

Interest Rate: 12% per annum, which will be compounded quarterly and is fully payable at the end of the 12-month tenure.

To back the debt funding, Deccan Gold Mines Limited has agreed to a collateral arrangement. The loan will be secured via a pledge of 18,750 equity shares held by Deccan Gold Mines Limited in its associate or group entity, Geomysore Services (India) Private Limited.

Shares of DECCAN GOLD MINES LTD. was last trading in BSE at Rs. 227.10 as compared to the previous close of Rs. 214.80. The total number of shares traded during the day was 1011555 in over 12101 trades.

The stock hit an intraday high of Rs. 235.00 and intraday low of 217.00. The net turnover during the day was Rs. 229938417.00.

Source : Equity Bulls

Keywords

DECCANGOLDMINES INE945F01025 Mining DebtFunding ModaliConsultantsLLP