Back
Corporate News
Davangere Sugar Company converts USD 10 million in bonds from Wave Capital and affiliates
25-Aug-2026, 02:50
Davangere Sugar Company Limited announced that its board approved the allotment of 26,59,05,000 fully paid-up equity shares upon the conversion of unsecured foreign currency convertible bonds, following conversion notices received from M/s. Wave Capital Limited, M/s Emerging Market Opportunities Ltd, and M/s Global Focus Fund. The conversion involved 100 bonds with a principal value of USD 1,00,000 each, totaling USD 10,000,000, converted at an exchange rate of INR 95.7258 per USD as of August 24, 2026, with a conversion price of INR 3.60 per equity share, increasing the company's paid-up equity share capital to INR 169,58,95,798 and leaving 900 FCCBs outstanding.
Davangere Sugar Company Limited announced that its board approved the allotment of 26,59,05,000 fully paid-up equity shares upon the conversion of unsecured foreign currency convertible bonds, following conversion notices received from M/s. Wave Capital Limited, M/s Emerging Market Opportunities Ltd, and M/s Global Focus Fund. The conversion involved 100 bonds with a principal value of USD 1,00,000 each, totaling USD 10,000,000, converted at an exchange rate of INR 95.7258 per USD as of August 24, 2026, with a conversion price of INR 3.60 per equity share, increasing the company's paid-up equity share capital to INR 169,58,95,798 and leaving 900 FCCBs outstanding.