Davangere Sugar Company Launches ₹149.22 Crore Rights Issue

On August 14, 2025, Davangere Sugar Company Limited announced its Rights Issue, expected to raise ₹149.22 crore. As a fully integrated sugar, ethanol, and renewable power company, it offers 48.92 crore equity shares at a face value of ₹1 each, priced at ₹3.05 per share.

Shareholders will receive 13 shares for every 25 held, with the option to renounce between August 14 and August 25, 2025. The record date for this issue was August 6, 2025, and it will close on August 29, 2025. Proceeds are earmarked for loan repayment and adjustment of unsecured loans for promoters.

Chairman & Managing Director Mr. Ganesh Shivashankarappa Shamanur stated that the fund will improve operations, support growth in ethanol production, and enable sustainable practices like CO₂ recovery systems. These developments aim to bolster the company's market position in biofuel and renewable energy sectors.

(With inputs from agencies.)