Deccan Gold Mines ups rights issue price; stock down 10%

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26 Aug, 2025 12:21

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Moneycontrol BureauShares of Deccan Gold Mines plunged 10 percent (intraday) amid market weakness Monday. The company has revised price of its proposed rights issue to Rs 17 per share from earlier Rs 15 per share.The rights issue is in the ratio of 1 rights share for every 2 shares held.Due to the revision in issue price, the issue size will get revised from Rs 44.41 crore to Rs 50.34 crore.The additional funds are sought to be utilised by the company for general corporate purpose and investment in subsidiary to establish a presence in Australia to facilitate the recruitment of technical personnel and access to other mining resources for development of our gold projects, as per BSE Release.At 10:42 hrs Deccan Gold Mines was quoting at Rs 69.25, down Rs 7.45, or 9.71 percent on the BSE.Posted by Rakesh Patil