Investment25 Jul 2026, 12:00 pm
Davangere Sugar Invests $84.95M in UK Subsidiary
AI Summary
Davangere Sugar Company Ltd announced its Board of Directors has approved an investment of USD 84,950,000 (approximately GBP 62,463,235) in its wholly owned foreign subsidiary, Aurevant Global Limited, UK. This investment is part of the utilization of proceeds from Foreign Currency Convertible Bonds (FCCBs) issued earlier. The company will be allotted approximately 62,463,235 new Ordinary shares of GBP 1.00 each by Aurevant Global Limited. The acquisition falls under the Automatic Route for Overseas Direct Investment.
Key Highlights
- Investment of USD 84.95 million in UK subsidiary Aurevant Global Limited.
- Investment is funded by proceeds from FCCBs.
- Subsidiary will allot new ordinary shares to Davangere Sugar.
- Transaction is under the Automatic Route for ODI.
- Aurevant Global Limited is engaged in ethanol and sugar products business in London.
Price Impact
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