Deccan Cements Limited has issued a corrigendum to its Postal Ballot Notice dated 14.05.2026. The corrigendum was sent to members who were shareholders as of the cut-off date of 8th May 2026.
Key Corrections to Postal Ballot Notice
A. Objects of the Issue (Page 15)
The explanatory statement under Section 102 of the Companies Act, 2013 has been amended as follows:
- Objects of the preferential issue: The company proposes to raise ₹102,99,99,685 through issuance of 14,40,559 Compulsorily Convertible Debentures (CCDs) at ₹715 each to non-promoters. The entire funds will be utilized for repayment of secured term loans availed from State Bank of India, IFB, Somajiguda, Hyderabad.
Term Loan Details:
- Lender: State Bank of India, IFB, Somajiguda, Hyderabad
- Term Loan sanctioned: ₹344.00 Crores
- Term Loan availed: ₹330.91 Crores
- Rate of Interest: 8.5% per annum payable at monthly rests
- Interest paid from March 2023 to April 2026: ₹60.40 Crores
- Term Loan Repaid: Nil (Repayment will commence from end of June 2026)
- Outstanding Amount as on 14th May 2026: ₹330.91 Crores
- Timelines for usage of funds: On or before 31st July 2026 from the date of receipt of funds
B. Other Disclosures (Page 19)
The following point has been added to the explanatory statement:
- CARE Ratings Limited has been appointed as the Monitoring Agency (MA) to monitor the utilization of proceeds from the proposed CCD issuance, in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Additional Information
All other contents of the Postal Ballot Notice remain unchanged. The corrigendum has been updated on the company's website at www.deccancements.com.