Deccan Gold Mines Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/01/2026 ,inter alia, to consider and approve 1. Proposal to participate ....
DECNGOLD · price
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Deccan Gold Mines has bought 14,127 equity shares of Geomysore Services India (GMSI) from Thriveni Earth Movers at ₹1,600 per share, totalling about ₹2.26 crore, raising its stake in GMSI to 26%. Separately, GMSI's board has approved a rights issue of about ₹200 crore at ₹250 per share in a 2:1 ratio. Deccan Gold's board will meet on January 24, 2026 to consider participating in GMSI's rights issue and to change the objects of its own ₹314.70 crore Rights Issue, so that some of the unutilised proceeds can be deployed toward this GMSI investment. An extraordinary general meeting (EGM) is also being planned to seek shareholder approval for this change in use of funds.
If approved, this signals a meaningful capital allocation toward GMSI (a key associate/subsidiary in the group's mining operations) and a re-purposing of the company's recently announced Rights Issue proceeds. Shareholders should watch the board outcome and EGM, as approving the change of objects effectively commits Rights Issue money to the GMSI investment rather than its originally stated purposes.