Decision on issue of further securities deferred

Mumbai: Dwarikesh Sugar Industries Ltd has informed BSE that the FCCB / GDR Committee of the Board of Directors has decided to defer the decision to implement the proposed issue of further securities by domestic or international offerings in the form of FCCB / GDR etc. The proposed issue was to be pursuant to section 81, 81 (1A) and other provisions of the Companies Act, 1956 up to a total of 69,35,000 equity shares such as the total sum not to exceed USD 50 million or its Indian rupee equivalent.

The Committee has also decided to fund the capex of Rs 3000 million for its expansion plans, as announced earlier, through rupee term loans and the internal accruals including the proceeds of the earlier GDR issue of 12 million USD.