DCM to raise Rs. 50 crore

DCM Limited plans to raise capital of Rs. 50 crore by issuing equity shares to the shareholders of the company on a rights basis (Rights Issue).

A Special Purpose Committee of Directors is in place to decide matters concerning the specifics of the Rights Issue such as the total amount, structure, price, timing, the appointment of lead managers, Registrar and share transfer agents, legal counsel, advisors and other intermediaries.

The company reported a weak financial performance in the quarter ended March 2019. On the consolidated financial front, revenue from operations rose 13.28 per cent YoY to Rs. 284.66 crore in Q4FY19 from Rs. 251.28 crore in Q4FY18. EBITDA dropped 66.74 per cent YoY to Rs. 4.68 crore in Q4FY19 from Rs. 14.07 crore in Q4FY18. The company reported net losses of Rs. 7.11 crore in Q4FY19 as against losses of Rs. 1.03 crore in Q4FY18.

On Thursday, the shares of DCM Ltd. opened at Rs. 45.00 and hit a high and low of Rs. 45.00 and Rs. 42.75, respectively. The stock was stuck in its lower circuit limit of Rs. 42.75, down 5 per cent.