Deccan Gold Mines receives ₹34.20 crore additional funding for expansion.

Deccan Gold Mines said it has secured further funding of Rs. 34.20 crore through a loan from Ardent Steel Private Limited, Chhattisgarh (a Hira Group Company) for its business operations.

In a regulatory filing, the company noted that with this further funding, it had availed an amount of Rs. 50 crore through a loan from Ardent Steel.

“This further funding will be primarily utilised for making equity investment into Geomysore Services (India) Private Limited, India (GMSI),” the company said.

The company said it is raising funds of Rs. 48 crore (approx.) by the issue of equity shares/equity warrants, which the shareholders approved at their EGM held on August 2, 2023, and the process is expected to be completed upon receipt of statutory/regulatory approvals.

HBL