Please find attached herewith Outcome of Board Meeting dated 04.12.2025 for approval of Investment in Deccan Gold Mines Limited (DGML) and to act as a Specific Investor in the proposed ....
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Godawari Power and Ispat Ltd's board on 04.12.2025 approved acting as a Specific Investor in the proposed Rights Issue of Deccan Gold Mines Ltd (DGML), a listed gold and critical minerals mining company. GPIL will subscribe to any unsubscribed portion of the Rights Issue to ensure at least 90% subscription, and can take up to 100% of the issue at Rs. 80 per share (including Rs. 79 premium), subject to its total holding (with group companies) not exceeding 25% of DGML's post-issue capital. DGML currently has minimal revenue (FY25 turnover of just Rs. 52.83 lakhs) as it is largely in the exploration stage across India, Kyrgyzstan, Finland, Mozambique, and Tanzania. GPIL's promoter group company Hira Infra-tek already holds 9.65% in DGML, and the deal is expected to complete on or before 31 December 2025.
This represents a strategic move by GPIL to deepen its exposure to gold and critical minerals mining, a sector outside its core steel/power business, with management citing value-accretive potential. Shareholders should note this is a cash investment funded from GPIL's books, and the capped 25% limit prevents a takeover but still gives GPIL meaningful influence in DGML.