Deccan Gold secures ₹20 crore debt for Altyn Tor project
Deccan Gold Mines Limited has secured debt funding of ₹20 crore from Hira Infra Tek Limited to finance the completion and development of the Altyn Tor Gold Project in the Kyrgyz Republic. The loan agreement was executed on July 01, 2026, and carries an interest rate of 12% per annum on a quarterly compounding basis. This funding is critical for advancing the project undertaken by Avelum Partner LLC, a subsidiary of Deccan Gold Mines Limited.
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Deccan Gold Mines Limited has secured debt funding of ₹20 crore from Hira Infra Tek Limited to finance the completion and development of the Altyn Tor Gold Project in the Kyrgyz Republic. The loan agreement was executed on July 01, 2026, and carries an interest rate of 12% per annum on a quarterly compounding basis. This funding is critical for advancing the project undertaken by Avelum Partner LLC, a subsidiary of Deccan Gold Mines Limited .
The debt has a tenure of six months, with interest payable not later than seven days before the end of the respective quarter. As security for the loan, the company has pledged 2,50,000 equity shares held by the borrower in Geomysore Services (India) Private Limited. The disclosure was made to BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Transaction Details
The filing confirmed that Hira Infra Tek Limited is not related to the promoter or promoter group of Deccan Gold Mines Limited. Consequently, the transaction does not fall under related party transactions. There is no shareholding in the lender by the company, and no special rights such as board appointments or share subscription rights have been granted.
| Particulars | Details |
|---|---|
| Borrower | Deccan Gold Mines Limited |
| Lender | Hira Infra Tek Limited |
| Total Amount | ₹20 crore |
| Tenure | 6 months |
| Interest Rate | 12% per annum (quarterly compounding) |
| Date of Agreement | July 01, 2026 |
| Security | Pledge of 2,50,000 equity shares in Geomysore Services (India) Private Limited |
Historical Stock Returns for Deccan Gold Mines
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.01% | +12.39% | +23.12% | +70.80% | +70.80% | +70.80% |
What is Deccan Gold Mines' strategy to repay or refinance the ₹20 crore debt given the short six-month tenure?
How will this funding specifically accelerate the development timeline for the Altyn Tor Gold Project in Kyrgyzstan?
Does the company plan to secure additional long-term financing to sustain operations beyond this initial six-month period?
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