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.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..