Davangere Sugar Company Limited has informed the Exchange about Copy of Newspaper Publication
DAVANGERE · price
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Davangere Sugar Company Limited has submitted to the exchanges a copy of the newspaper advertisement published on August 12, 2025, in 'Prajavani' (Kannada daily), as required under SEBI ICDR Regulation 84(1). The ad relates to its rights issue approved by the Board on July 25, 2025 and the Rights Issue Committee on July 31 and August 4, 2025. The company is offering up to 48,92,39,202 equity shares of face value ₹1 each at ₹3.05 per share (including a ₹2.05 premium), aggregating up to ₹14,921.80 lakhs (~₹149.22 crore). Eligible shareholders on the record date of August 6, 2025 will get 13 rights shares for every 25 fully paid-up shares held. The issue opens on August 29, 2025, with renunciation last date of August 14, 2025.
Existing shareholders can subscribe to the rights issue at ₹3.05 per share to avoid dilution; if they don't participate, their effective holding will be diluted given the 13:25 ratio. The fund raise of up to ~₹149 crore will strengthen the company's capital base, though the deep discount to likely market price (face value ₹1) suggests the stock trades well below ₹3, making this a dilutive offer for non-participants.