EGM Details

  • Meeting Date: Wednesday, September 2, 2026
  • Time: 11:30 AM IST
  • Mode: Video Conferencing (VC) / Other Audio Visual Means (OAVM)
  • Cut-off date for e-voting: Wednesday, August 26, 2026
  • E-voting period: August 29, 2026 (9:00 AM) to September 1, 2026 (5:00 PM)
  • Scrutinizer: CS Jayesh M Shah, Partner of M/s. Rathi & Associates

Agenda Items

Item 1: Issue of Compulsorily Convertible Debentures (CCDs)

  • Security Type: Compulsorily Convertible Debentures
  • Total Issue Size: 8,57,216 CCDs
  • Face Value: ₹191.90 per CCD
  • Total Consideration: ₹16.45 crore
  • Conversion Terms: Each CCD converts into 1 equity share of face value ₹1
  • Conversion Period: Within 18 months from allotment date
  • Interest Rate: 12% per annum, payable annually
  • Allottees:
  • Pooja Unichem LLP: 1,04,220 CCDs (₹2.00 crore)
  • Rupal Mukesh Dedhia: 7,03,491 CCDs (₹13.50 crore)
  • Sita Reddy S: 23,450 CCDs (₹0.45 crore)
  • Alpa Karkhanis: 26,055 CCDs (₹0.50 crore)

Item 2: Issue of Equity Shares

  • Security Type: Equity Shares
  • Total Issue Size: 3,90,827 shares
  • Face Value: ₹1 per share
  • Issue Price: ₹191.90 per share (including premium of ₹190.90)
  • Total Consideration: ₹7.50 crore
  • Allottees:
  • Shila Minda: 3,12,662 shares (₹6.00 crore)
  • Shikha Goyal: 78,165 shares (₹1.50 crore)

Item 3: Issue of Equity Warrants

  • Security Type: Equity Warrants
  • Total Issue Size: 59,26,196 warrants
  • Issue Price: ₹191.90 per warrant
  • Total Consideration: ₹113.72 crore
  • Payment Terms: 25% upfront, 75% upon exercise
  • Conversion: Each warrant converts into 1 equity share
  • Conversion Period: Within 18 months from allotment date
  • Allottees: 25 entities including:
  • Pooja Unichem LLP: 4,16,883 warrants (₹8.00 crore)
  • Rupal Mukesh Dedhia: 4,16,883 warrants (₹8.00 crore)
  • Naushad Ahmed: 10,00,000 warrants (₹19.19 crore)
  • SB Opportunities Fund I: 8,30,700 warrants (₹15.94 crore)
  • Beyond The Crowd Ventures LLP: 3,12,663 warrants (₹6.00 crore)
  • Modali Consultants LLP: 3,12,663 warrants (₹6.00 crore)
  • Taparia Holdings Private Limited: 3,12,663 warrants (₹6.00 crore)

Total Fundraise Summary

  • CCDs: ₹16.45 crore (8,57,216 securities)
  • Equity Shares: ₹7.50 crore (3,90,827 securities)
  • Equity Warrants: ₹113.72 crore (59,26,196 securities)
  • Grand Total: ₹137.67 crore (71,74,239 equivalent equity shares)

Utilization of Proceeds

  • Debt Repayment: ₹28.00 crore (20.34%) by December 31, 2026
  • Hira Infra Tek Limited: ₹17.00 crore
  • Beyond The Crowd Ventures LLP: ₹6.00 crore
  • Modali Consultants LLP: ₹5.00 crore
  • Exploration Activities: ₹55.00 crore (39.95%) by March 31, 2028
  • Gile Lithium Tantalum Project, Mozambique
  • Logrosan Tungsten Project, Spain
  • Kuikka Gold Project, Finland
  • Bhalukona Nickel & Copper Project, Chhattisgarh, India
  • Subsidiary Investment: ₹15.00 crore (10.90%) in Avelum Partner LLC, Kyrgyzstan by December 31, 2026
  • Working Capital: ₹5.50 crore (3.99%) by December 31, 2026
  • General Corporate Purpose: ₹34.17 crore (24.82%) by March 31, 2028

Pricing Details

  • Relevant Date: August 3, 2026
  • Floor Price Calculation:
  • 90-day VWAP: ₹150.63
  • 10-day VWAP: ₹191.90
  • Issue Price: ₹191.90 (higher of the two)
  • Pricing Certificate: Available on company website

Shareholding Impact

  • Pre-issue fully diluted capital: 20,27,21,715 shares
  • Post-issue fully diluted capital: 20,98,95,954 shares
  • Promoter holding dilution: From 20.13% to 19.44%
  • No change in control anticipated

Lock-in Requirements

  • CCDs and Warrants: 1 year from allotment date
  • Equity Shares: 6 months from trading approval
  • Resulting shares from conversion: 6 months from allotment
  • Pre-issue shareholding of allottees: Locked for 90 trading days from allotment

Monitoring Agency

  • Appointment: Infomerics Valuation and Rating Limited
  • Role: Monitor utilization of proceeds as per Regulation 162A of SEBI ICDR Regulations
  • Reporting: Quarterly reports until 100% utilization

Item 4: Director Appointment

  • Name: Mrs. Jade Gemma Devenish (DIN: 02647675)
  • Position: Non-Executive Non-Independent Director
  • Appointment Date: August 7, 2026
  • Term: Liable to retire by rotation
  • Remuneration: Sitting fees for Board/Committee meetings
  • Shareholding: 11,809 shares
  • Background: Former MD of Geomysore Services India Pvt Ltd, involved in Jonnagiri Gold Project

Legal Disclosures

  • Subsidiary DESPL has pending Writ Petitions in Karnataka High Court regarding mining lease applications
  • Cases adjourned pending Supreme Court decision in State of Karnataka vs. Indocil Silicons Private Limited

E-voting Instructions

  • Platform: MUFG Intime India Private Limited
  • Methods: NSDL, CDSL, and physical shareholder portals
  • Results: To be declared on company website and communicated to BSE

Document Availability

  • Company Website: https://deccangoldmines.com/
  • BSE Website: www.bseindia.com
  • Inspection: Documents available electronically upon request

#Tags: #DeccanGoldMines #Fundraising #PreferentialIssue #SEBIDisclosure #EGMNotice #RegulatoryCompliance #FinancialUpdate #Neutral