Deccan Gold Mines Limited (BSE:512068) agreed to acquire 49% of stake in Geomysore Services India Pvt Ltd from Australian Indian Resources Limited, Lionsgold India Holdings Limited and SUN Group on May 10, 2021. GMSI's largest shareholder, Thriveni Earth Movers Private Limited (“TEMPL”) will retain the rights to a minimum of 51% stake in GMSI on the basis of securing the project finance for the development of the Jonnagiri Gold Project. The transaction is subject to regulatory / statutory approvals as may be required in this regard, DGML board, shareholders, final valuations and swap ratios. As of November 30, 2022, board of directors of Deccan Gold Mines Limited approved the transaction. As of year ending in June 30, 2022, Tally Ltd entered into an agreement to sell its 21.15% stake in Geomysore to Deccan , subject to regulatory permissions. The transaction is also subject to Deccan shareholder approval at an EGM to be held on December 23, 2022 and is expected to complete within three months from December 16, 2022.

Deccan Gold Mines Limited (BSE:512068) completed the acquisition of 49% of stake in Geomysore Services India Pvt Ltd from Australian Indian Resources Limited, Lionsgold India Holdings Limited and SUN Group on January 2, 2023.