Loan & Debt25 Feb 2025, 11:48 pm
Godawari Power & Ispat Lends Rs 50 Cr to Deccan Gold Mines for Gold Project Funding
AI Summary
Godawari Power & Ispat Limited (GPIL) has executed a Facility Agreement on 25.02.2025 for granting an Inter Corporate Loan of Rs. 50 Crore to Deccan Gold Mines Limited (DGML). The loan is intended for funding the Altyn Tor Gold Project of Avelum Partner LLC, Kyrgyzstan, a subsidiary company of DGML. The loan has a tenure of 36 months and an interest rate of 12% per annum.
Key Highlights
- Godawari Power & Ispat Ltd lends Rs 50 Crore to Deccan Gold Mines Limited
- Loan intended for funding Altyn Tor Gold Project of Avelum Partner LLC, Kyrgyzstan
- Loan has a tenure of 36 months and an interest rate of 12% per annum
- Hira Infra-tek Limited, a promoter group company, holds 10.11% equity in Borrower
- Loan secured by pledge of 4,14,603 equity shares held by the Borrower in Geomysore Services (India) Private Limited