Davangere Sugar Fixes INR 3.60 Conversion Price For USD 100 Million FCCB

Board approved issuance of USD 100 Mn unsecured FCCBs (1,000 bonds at $100k each) with 2% p.a. coupon, issued at 15% discount (issue price $85 Mn), maturing July 2031. Conversion price at INR 3.60 per share, translating to ~264.6 Cr underlying equity shares on full conversion. Listing on Afrinex Stock Exchange, Mauritius.