Godawari Power and Ispat informed stock exchanges on Tuesday, December 31, that it will not be required to subscribe to any shares in the ongoing rights issue of Deccan Gold Mines Ltd after the issue was oversubscribed.
In an exchange filing, the company said it had earlier decided to act as a Specific Investor in the proposed rights issue of Deccan Gold Mines under Regulation 7B of the SEBI (ICDR) Regulations, 2018. However, due to strong demand, the rights issue has been fully subscribed, eliminating the need for Godawari Power and Ispat to step in as a specific investor .
The company clarified that since the issue received subscriptions beyond the required level, no allotment obligation arises for Godawari Power and Ispat under the said arrangement. The update has been disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Godawari Power and Ispat had previously communicated its intent to participate as a backstop investor on December 4, 2025, subject to the subscription status of the rights issue. The latest update confirms that the company’s financial exposure under the proposal will remain nil.
The filing was submitted to both BSE (Scrip Code: 532734) and NSE (Symbol: GPIL) for information and record.
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