Penny Stock Under Rs 5 Jumps 5% in a Week; Mauritius Based Fund Acquires 5 Crore Shares Through Block Deal

Indian equity benchmark indices traded higher on Friday, with the benchmark Nifty 50 index rising 0.20 per cent to 23,737.55 during the session. Positive sentiment across ethanol and sugar-related stocks supported buying interest in the broader markets. In this segment, shares of Davangere Sugar remained in focus after Mauritius-based institutional investor Craft Emerging Market Fund PCC acquired shares in the company through a bulk deal. On Friday, Davangere Sugar share price gained 2.10 per cent to Rs 3.89.

Mauritius-Based Fund Acquires 5 Crore Shares

Davangere Sugar informed that Craft Emerging Market Fund PCC acquired a total of 5 crore shares in the company through a bulk deal transaction on May 14, 2026.

According to the company, Craft Emerging Market Fund PCC – Citadel Capital Fund acquired 2.5 crore shares, while Craft Emerging Market Fund PCC – Elite Capital Fund acquired another 2.5 crore shares. The transaction was executed at Rs 3.65 per share, taking the total deal value to around Rs 18.25 crore.

The company stated that the investment reflects growing global investor interest in India’s ethanol and clean energy sector.

Ethanol Expansion And Growth Strategy

Davangere Sugar currently operates with an ethanol production capacity of 150 KLPD and continues to strengthen its integrated sugar and ethanol business model.

The company stated that India’s ethanol sector is witnessing strong momentum due to government-led blending targets, increasing fuel diversification initiatives and rising focus on renewable energy solutions.

Further strengthening its long-term ethanol roadmap, the Board of Directors had earlier approved expansion of the company’s distillery production capacity at its meeting held on March 30, 2026.

Management Commentary

Commenting on the investment, the management of Davangere Sugar stated that participation by Craft Emerging Market Fund reflects confidence in the company’s long-term growth vision and its positioning within India’s evolving ethanol sector. The company added that it remains focused on strengthening operational performance, enhancing efficiencies and building sustainable value for stakeholders.

Q4FY26 Results Date

Davangere Sugar also announced that it is scheduled to declare its Q4FY26 financial results on May 16, 2026.

About Davangere Sugar

Davangere Sugar Company is a Karnataka-based integrated sugar and ethanol company engaged in sugar manufacturing, ethanol production and power co-generation operations.

The company operates manufacturing facilities at Kukkuwada in Karnataka and currently has sugarcane crushing capacity, ethanol production facilities and co-generation power operations supporting its integrated business model.

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Disclaimer: This article is for informational purposes only and not investment advice.