Davangere Sugar Company Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 25/07/2025 ,inter alia, to consider and approve the proposal for Fund ....
DAVANGERE · price
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Davangere Sugar Company has informed the stock exchanges that its Board meeting, originally scheduled for July 9, 2025 (and later cancelled), has been rescheduled to July 25, 2025. The Board will consider and approve a proposal to raise funds by issuing fully paid-up equity shares through a Rights Issue to existing eligible shareholders. This new proposal will replace an earlier Board resolution from September 6, 2024, which had also approved a Rights Issue, but is being updated to align with SEBI's new simplified Rights Issue regulations announced in 2025 and to revise the issue size. The company has not disclosed the exact amount it plans to raise or the record date. Regulatory approvals will be needed before the issue can proceed.
Shareholders can expect a Rights Issue offer in the coming months, which will give them the right (but not obligation) to buy additional shares in proportion to their existing holdings. The use of proceeds and the issue size are not yet disclosed, so the dilution impact on existing shareholders is unclear until further details are shared.