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PNN
Mumbai (Maharashtra) [India], August 14: Davangere Sugar Company Limited, (NSE Code: DAVANGERE), (BSE Code: 543267), a fully integrated sugar, ethanol, and renewable power company, opened its Rights Issue on Thursday, Aug 14, 2025, aiming to raise 149.22 Crore. The issue size is 48,92,39,202 equity shares at a face value of 1 each with an Issue Price of 3.05 Per Share. Rights Issue details: * Right Issue Price - 3.05 Each Share * Right Issue Size - 149.22 Crore * Right Entitlement - 13 Shares for every 25 shares held * Renunciation Of RE - 14th Aug, 2025 - 25th Aug, 2025 * Record Date - 06th Aug, 2025 * Rights Issue Closes - 29th Aug, 2025 The net proceeds from the Rights Issue will be utilised for Repayment or prepayment, in full or in part, of all or a portion of certain borrowing availed by the Company, and Adjustment of Unsecured Loans against the Rights Entitlement of the Promoters. Mr. Ganesh Shivashankarappa Shamanur, Chairman & Managing Director of Davangere Sugar Company Limited, expressed, "We are pleased to announce the launch of our Rights Issue, giving our existing shareholders an opportunity to participate directly in the next stage of the company's growth. Over the years, we have steadily evolved into an integrated sugar, ethanol, and renewable power producer, strengthening our operations and expanding our product portfolio. The funds raised will be utilised for the repayment of existing loans. Future plans include enhancing ethanol production capacity, introducing CO recovery systems, modernising facilities, and implementing initiatives to increase sugarcane cultivation. These steps will help improve efficiency, support sustainable practices, and position us to capture emerging opportunities in the biofuel and renewable energy space." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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