Announced Tue, 23 Jun · 17:28 IST
Deccan Gold takes Rs 3 Crore loan at 12 percent for project development
DECNGOLD · price
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Price reaction · full curve 14 horizons · vs prior close
-10.8%1-day move
₹217.69
prior close
₹219.00
base price
After-mkt
timing
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+0.7+0.6+1.1-1.1-10.8-9.5-9.3-13.5-16.3-6.4-9.1-10.5——
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AI summary
Deccan Gold Mines has completed paperwork to take a loan of Rs 3 crore from Modali Consultants LLP to fund development of its project. The loan carries 12 percent annual interest, compounded quarterly, with a 12 month tenure and bullet repayment at the end. It is secured by a pledge of 18,750 equity shares Deccan Gold holds in its subsidiary Geomysore Services India. The lender is not related to the promoter or group companies.
Likely market impact
Modest debt addition at 12 percent for project development, secured by pledged shares in subsidiary Geomysore Services.