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.