Please find attached Corrigendum to Postal Ballot Notice dated 14.05.2026 which will be sent to the Shareholders Today, who are Members as on the Cut off date (08.05.2026).
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Deccan Cements has issued a corrigendum to its earlier postal ballot notice to correct two sections. First, the Objects of the Issue now shows the company plans to raise approximately Rs. 103 crore by issuing 14,40,559 Compulsorily Convertible Debentures (CCDs) at Rs. 715 per unit to non-promoters, solely to repay a secured term loan from State Bank of India (SBI IFB, Somajiguda, Hyderabad). The loan was sanctioned for Rs. 344 crore, with Rs. 330.91 crore currently outstanding, carrying an 8.5% annual interest rate. Interest paid over March 2023 to April 2026 totals Rs. 60.40 crore, with no principal repayment made so far. Second, CARE Ratings Limited has been appointed as the Monitoring Agency to oversee fund utilisation. The fund usage deadline is 31st July 2026.
Shareholders should note this is a debt-to-equity conversion via CCDs, reducing a large Rs. 330.91 crore SBI liability while diluting promoter and possibly non-promoter stakes through conversion. The appointment of CARE Ratings as monitoring agency adds regulatory oversight of fund usage.