Loan & Debt24 Jun 2026, 06:20 pm
Davangere Sugar Gets In-Principle Approval for $100M FCCBs, Opens UK Subsidiary
AI Summary
Davangere Sugar Company Ltd has received in-principle approval from BSE and NSE for issuing Foreign Currency Convertible Bonds (FCCBs) up to USD 100 Million. This move is part of the company's strategic corporate updates and global expansion. Additionally, the company has incorporated a wholly-owned subsidiary in London, United Kingdom, named AUREVANT GLOBAL LIMITED, to focus on ethanol and sugar products. The subsidiary was incorporated on June 4, 2026, with an initial cash consideration of 1000 GBP.
Key Highlights
- Received in-principle approval for FCCBs worth up to USD 100 Million.
- Incorporated a 100% wholly-owned subsidiary in London, UK.
- Subsidiary named AUREVANT GLOBAL LIMITED, to focus on ethanol and sugar products.
- FCCB approval is for strategic expansion and capital expenditure.
- Subsidiary incorporation is a step towards global expansion strategy.
Price Impact
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