Deccan Cements Limited has informed the Exchange regarding Corrigendum to Notice of Postal Ballot
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Deccan Cements Limited has issued a corrigendum to its earlier Postal Ballot Notice dated 14.05.2026. The company is proposing to raise Rs. 1,02,99,99,685 (approximately Rs. 103 crore) by issuing 14,40,559 Compulsorily Convertible Debentures (CCDs) at Rs. 715 each to non-promoters. The funds will be used entirely for repayment of a secured term loan of Rs. 330.91 crore from State Bank of India, IFB, Somajiguda, Hyderabad. The loan carries an 8.5% interest rate and repayment commences from end of June 2026. CARE Ratings Limited has been appointed as the Monitoring Agency to monitor the utilisation of proceeds, as required under SEBI ICDR Regulations, 2018.
Shareholders should note that this preferential issue will result in dilution of their stake since CCDs are being issued to non-promoters. The repayment of expensive term loan debt may improve the company's financial position and reduce interest burden going forward.