Deccan Cements Limited has issued a corrigendum to its postal ballot notice dated May 14, 2026, altering the objects of a preferential issue of Compulsorily Convertible Debentures (CCDs) worth ₹102.99 crores. The company clarified that the entire proceeds from the issuance of 14,40,559 CCDs at ₹715 each to Non Promoters will be utilised towards the repayment of secured term loans availed from State Bank of India, IFB, Somajiguda, Hyderabad. This disclosure is critical for shareholders as it defines the specific deployment of capital raised through the preferential allotment.

The preferential issue aims to raise a total amount of ₹1,02,99,99,685. The utilisation of these funds is scheduled to occur on or before July 31, 2026, upon and from the date of receipt of funds. The corrigendum was sent to members of the company as on the cut-off date of May 8, 2026.

Details of Term Loan

The filing provided specific financial metrics regarding the term loan facility that proceeds from the CCD issue will service. The outstanding liability and associated costs are detailed below:

Repayment of the term loan is set to commence from the end of June 2026. The company noted that while interest payments totaling ₹60.40 Crores have been made between March 2023 and April 2026, no principal repayment has occurred yet.

Monitoring Agency Appointment

In addition to the alteration of the objects of the issue, the company appended a disclosure regarding the appointment of a monitoring agency. CARE Ratings Limited has been appointed to monitor the utilisation of proceeds from the proposed issuance of CCDs. This appointment is in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The corrigendum confirms that save for the aforesaid alterations, the original postal ballot notice remains unchanged.

Deccan Cements Limited has announced that its board of directors will meet on Friday, May 29, 2026, at the company's registered office. The primary agenda for the meeting includes the consideration and approval of the standalone and consolidated audited financial results for the quarter and year ended March 31, 2026.

In addition to the financial results, the board will deliberate on a proposal regarding the recommendation of the final dividend for the fiscal year 2025-26. The outcome of these deliberations will determine the dividend payout, if any, to the shareholders.

Consequently, the trading window for the company's securities remains closed. This closure, which began on March 23, 2026, will continue until May 31, 2026. The window will remain shut until 48 hours after the declaration of the financial results and the recommendation of the final dividend.

Meeting Details

The company has informed the BSE Limited and the National Stock Exchange of India Limited regarding the scheduled board meeting. Deccan Cements Limited trades under the symbol DECCANCE on the NSE.