Loan & Debt5 Jun 2026, 04:51 pm
Godawari Power Grants ₹40 Cr Loan to Deccan Gold Mines
AI Summary
Godawari Power and Ispat Limited (GPIL) has executed a facility agreement to grant an Inter Corporate Loan of ₹40 Crore to Deccan Gold Mines Limited (DGML). The funds will be utilized by DGML primarily for the development of the Altyn Tor Gold Project in the Kyrgyz Republic, undertaken by its subsidiary Avelum Partner LLC, along with other project development, working capital, and general administrative purposes. The loan has a tenure of 12 months with an interest rate of 12% per annum. GPIL holds 4,75,537 equity shares in DGML and also has a 26% stake in Avellum Partner LLC. The loan is secured by a pledge of 5,00,000 equity shares of Geomysore Services (India) Private Limited held by DGML.
Key Highlights
- GPIL provides ₹40 Cr Inter Corporate Loan to DGML.
- Loan to fund Altyn Tor Gold Project development in Kyrgyz Republic.
- Loan tenure is 12 months at 12% annual interest.
- Security includes pledge of 5,00,000 Geomysore Services shares.
- GPIL has existing shareholding in DGML and its subsidiary.
Price Impact
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