Deccan Cements Issues Corrigendum to Postal Ballot Notice Dated 14.05.2026
Deccan Cements Limited issues a corrigendum to its Postal Ballot Notice. The company plans to raise ₹102.99 crore by issuing 14.4 lakh CCDs to Non-Promoters at ₹715 each. Funds will repay a ₹330.91 crore State Bank of India term loan. CARE Ratings appointed as Monitoring Agency.
The preferential issue and repayment of a significant term loan have direct financial implications for the company's debt structure and capital raising activities.
The announcement is a corrigendum to a previous notice regarding a preferential issue and term loan repayment. It clarifies details but does not introduce new positive or negative financial performance or strategic shifts.
Deccan Cements Limited has issued a corrigendum to its Postal Ballot Notice dated 14.05.2026. This corrigendum is being sent to members as of the cut-off date, 8th May 2026.
The primary alteration concerns the "Objects of the Issue" detailed in the Explanatory Statement under Section 102 of the Companies Act, 2013.
The company proposes to raise ₹102.99 crore (1,02,99,99,685) through the issuance of 14,40,559 Compulsorily Convertible Debentures (CCDs) at ₹715 each to Non-Promoters. The entire funds raised will be utilized for the repayment of secured term loans availed from the State Bank of India, IFB, Somajiguda, Hyderabad. The details of the term loan include an outstanding amount of ₹330.91 crore as of 14th May 2026, with an interest rate of 8.5% per annum. Repayment of this term loan is scheduled to commence from the end of June 2026.
Furthermore, the corrigendum specifies that the funds raised from the CCD issuance will be utilized on or before 31st July 2026, upon and from the date of receipt of funds.
In the "Other Disclosures" section of the Postal Ballot Notice, it is appended that CARE Ratings Limited has been appointed as the Monitoring Agency (MA) to oversee the utilization of proceeds from the CCD issuance, in compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
All other aspects of the Postal Ballot Notice dated 14.05.2026 remain unchanged. The corrigendum has also been updated on the company's website.
What to do with a filing like this
Deccan Cements Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Deccan Cements Limited. Read the original for the full detail.