The Board of Directors of DSCL (''Board''), has inter-alia superseded the Right issue approval granted on 06th September 2024 and via a fresh resolution approved fund raise by way of offer and issuance of fully paid-up equity shares of the Company for an amount not exceeding Rs. 15000 Lakhs; to pursue the proposed Right Issue under SEBI (ICDR) (Amendment) Regulations, 2025 dated 3rd March 2025 ( ''new simplified regulations'') which have considerably simplified the Rights issue process thereby making it time, process and cost efficient.
DAVANGERE · price
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The Board of Davangere Sugar Company has approved a fresh Rights Issue of fully paid-up equity shares (face value Rs. 1) to existing eligible shareholders, for an amount not exceeding Rs. 15,000 Lakhs (Rs. 150 crore). This new approval supersedes the earlier Rights Issue approval granted on September 6, 2024, which was for a larger amount of Rs. 40,000 Lakhs (Rs. 400 crore) — it is not an additional offer. The company is pursuing the issue under SEBI's new simplified Rights Issue regulations dated March 3, 2025, which make the process faster, cheaper, and more efficient. Final terms such as issue price, entitlement ratio, record date, and payment schedule are yet to be decided by the Board.
Existing shareholders will get the opportunity to subscribe to new shares in proportion to their holdings once the record date is set. The downsizing of the issue size from Rs. 400 crore to Rs. 150 crore could mean lower dilution, but the exact impact on share price will depend on the issue price and entitlement ratio announced later.