Announced Wed, 8 Jul · 19:22 IST
Davangere Sugar FCCB issue of USD 100 Million fully subscribed
Fund Raising View source PDF
DAVANGERE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.0%1-day move
₹3.57
prior close
₹3.56
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.3+0.6+0.0—-2.0-2.0-2.8-2.0-2.2-5.3————
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AI summary
Davangere Sugar Company has closed its FCCB (Foreign Currency Convertible Bond) issue, which was fully subscribed. The issue size was up to USD 100 Million (approximately INR 952.41 Crore). Key terms: 1000 unsecured FCCBs at a 2% coupon rate, issued at a 15% discount to issue price, aggregating USD 85 Million. The issue opened on 3rd July 2026 and closed on 8th July 2026.
Likely market impact
Full subscription strengthens the company's capital base. Low 2% coupon means cheap borrowing, but the 15% conversion discount hints at future equity dilution for shareholders.