Deccan Gold Turns Debt-Free After Rs 3.14 Bn Rights Issue

06 Jan 2026 CW Team

Deccan Gold Mines has recently announced that it has fully repaid all outstanding loans, including accrued interest, following the successful closure of its Rs 3.14 billion Rights Issue on 26 December 2025. With this, the company has become completely debt-free, marking a key milestone in its financial and operational journey.

The repayments were made to Ardent Steels Private (Rs 750 million), Godavari Power & Ispat (Rs 1.20 billion), and Hira Ferro Alloys (Rs 80 million). Accrued interest up to 2 January 2026 has also been fully settled. The company is now working with the Hira Group to complete procedural formalities, including satisfaction of charge filings and the release of pledged shares of Geomysore Services (India).

Deccan Gold said the move is expected to significantly strengthen its balance sheet, improve capital efficiency and enhance financial flexibility to support project execution and expansion. The development coincides with the company advancing production-stage assets and progressing multiple projects into drilling and resource development across gold and critical minerals.

Commenting on the milestone, Dr Hanuma Prasad Modali, Managing Director, Deccan Gold Mines, said becoming debt-free represents a strategic inflection point, enabling the company to accelerate exploration, production scale-up and portfolio expansion with a longer-term investment horizon. He added that the focus remains on responsible mining, technology-led execution and sustainable value creation as projects move into the production lifecycle.

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