Sponsor and founders report large stakes in D. Boral Acquisition I Corp. (DBCA)

Rhea-AI Filing Summary

D. Boral Acquisition I Corp. ownership disclosure: Reporting persons D. BORAL SPONSOR I LLC, David Boral and John Darwin jointly report beneficial ownership stakes in the issuer's ordinary shares. The filing lists specific share counts and a reported ownership percentage for each reporting person.

The cover-page detail shows D. BORAL SPONSOR I LLC with 12,521,429 shares and 28.94%, and Messrs. Boral and Darwin each with 13,421,429 shares and 31.02% (percentages calculated on a 43,271,429 share base).

Key Figures

Sponsor shares reported: 12,521,429 shares Sponsor ownership percentage: 28.94% Individual holdings (Boral): 13,421,429 shares +4 more

7 metrics

Sponsor shares reported 12,521,429 shares D. BORAL SPONSOR I LLC reported beneficial ownership

Sponsor ownership percentage 28.94% Percent of a 43,271,429 share base

Individual holdings (Boral) 13,421,429 shares Reported beneficial ownership for David Boral

Individual holdings (Darwin) 13,421,429 shares Reported beneficial ownership for John Darwin

Individual ownership percentage 31.02% Percent of a 43,271,429 share base for each named individual

Share base used for percentages 43,271,429 shares Denominator used to calculate reported percentages

Excluded warrant shares 100,000 shares Excluded as not presently exercisable warrants underlying private units

Key Terms

Class B ordinary shares, private units, beneficial ownership, Schedule 13G

4 terms

Class B ordinary shares financial

"12,521,429 Class B ordinary shares of the Issuer that are convertible into Class A"

Class B ordinary shares are a type of ownership stake in a company that typically come with different voting rights or privileges compared to other share classes. For investors, they represent a way to hold part of the company’s value and influence its decisions, often with fewer voting rights than Class A shares. Understanding these shares helps investors assess their level of control and potential returns within a company.

private units financial

"200,000 shares of Class A common stock of the Issuer underlying the private units"

beneficial ownership regulatory

"may be deemed to have beneficial ownership of the ordinary shares held directly"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Schedule 13G regulatory

"This is being jointly filed... referred to herein as the "Reporting Persons""

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

D. Boral Acquisition I Corp.

(Name of Issuer)

Class A common stock, par value $0.0001 per share

(Title of Class of Securities)

G2616T101

(CUSIP Number)

02/10/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G2616T101

1

Names of Reporting Persons

D. BORAL SPONSOR I LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,521,429.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,521,429.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,521,429.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

28.94 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: (1) The shares reported above represent (i) 12,521,429 Class B ordinary shares of the Issuer that are convertible into Class A ordinary shares of the Issuer and have no expiration date, as described under the heading "Description of Securities--Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-291613) and (ii) 200,000 shares of Class A common stock of the Issuer. D. BORAL SPONSOR I LLC is the record holder of the shares of Class A common stock and Class B common stock reported under Item 6 hereof. David Boral and John Darwin are the managers of D. BORAL SPONSOR I LLC and hold voting and investment discretion with respect to the ordinary shares held of record by D. BORAL SPONSOR I LLC. Accordingly, David Boral and John Darwin may be deemed to have beneficial ownership of the ordinary shares held directly by D. BORAL SPONSOR I LLC. (2) Excludes 100,000 Class A ordinary shares of the Issuer which may be issued upon the exercise of warrants underlying the private units held by D. BORAL SPONSOR I LLC that are not presently exercisable. (3) The percentage set forth in Row 11 of this Cover Page is based on 43,271,429, which consists of (i) 28,750,000 Class A ordinary shares of the Issuer issued in the Issuer's initial public offering, (ii) 12,321,429 Class B ordinary shares of the Issuer issued to D. BORAL SPONSOR I LLC, (iii) the 200,000 shares of Class A common stock of the Issuer underlying the private units beneficially owned by the Reporting Person as set forth in Row 9, and (iv) 2,000,000 shares of Class A common stock held by David Boral, John Darwin and Mark Iorio.

SCHEDULE 13G

CUSIP Number(s): G2616T101

1

Names of Reporting Persons

David Boral

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 900,000.00
6	Shared Voting Power 12,521,429.00
7	Sole Dispositive Power 900,000.00
8	Shared Dispositive Power 12,521,429.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,421,429.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

31.02 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: (1) The shares reported above represent (i) 12,321,429 Class B ordinary shares of the Issuer that are convertible into Class A ordinary shares of the Issuer and have no expiration date, as described under the heading "Description of Securities--Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-291613), which are held by D. BORAL SPONSOR I LLC, (ii) 200,000 shares of Class A common stock of the Issuer, which are held by D. BORAL SPONSOR I LLC, and (iii) 900,000 shares of Class A common stock of the Issuer, which are held by David Boral. David Boral and John Darwin are the managers of D. BORAL SPONSOR I LLC and hold voting and investment discretion with respect to the ordinary shares held of record by D. BORAL SPONSOR I LLC. Accordingly, David Boral and John Darwin may be deemed to have beneficial ownership of the ordinary shares held directly by D. BORAL SPONSOR I LLC. (2) Excludes 100,000 Class A ordinary shares of the Issuer which may be issued upon the exercise of warrants underlying the private units held by D. BORAL SPONSOR I LLC that are not presently exercisable. (3) The percentage set forth in Row 11 of this Cover Page is based on 43,271,429, which consists of (i) 28,750,000 Class A ordinary shares of the Issuer issued in the Issuer's initial public offering, (ii) 12,321,429 Class B ordinary shares of the Issuer issued to D. BORAL SPONSOR I LLC, (iii) the 200,000 shares of Class A common stock of the Issuer underlying the private units beneficially owned by the Reporting Person as set forth in Row 9, and (iv) 2,000,000 shares of Class A common stock held by David Boral, John Darwin and Mark Iorio. By virtue of their shared control of D. BORAL SPONSOR I LLC, Mr. Boral and Mr. Darwin may be deemed to have beneficial ownership of the shares held directly by D. BORAL SPONSOR I LLC. Mr. Boral disclaims any beneficial ownership of the shares held by BORAL SPONSOR I LLC, except to the extent of his pecuniary interest therein.

SCHEDULE 13G

CUSIP Number(s): G2616T101

1

Names of Reporting Persons

John Darwin

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 900,000.00
6	Shared Voting Power 12,521,429.00
7	Sole Dispositive Power 900,000.00
8	Shared Dispositive Power 12,521,429.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,421,429.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

31.02 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: (1) The shares reported above represent (i) 12,321,429 Class B ordinary shares of the Issuer that are convertible into Class A ordinary shares of the Issuer and have no expiration date, as described under the heading "Description of Securities--Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-291613) and (ii) 200,000 shares of Class A common stock of the Issuer. D. BORAL SPONSOR I LLC is the record holder of the shares of Class A common stock and Class B common stock reported under Item 6 hereof. David Boral and John Darwin are the managers of D. BORAL SPONSOR I LLC and hold voting and investment discretion with respect to the ordinary shares held of record by D. BORAL SPONSOR I LLC. Accordingly, David Boral and John Darwin may be deemed to have beneficial ownership of the ordinary shares held directly by D. BORAL SPONSOR I LLC. (2) Excludes 100,000 Class A ordinary shares of the Issuer which may be issued upon the exercise of warrants underlying the private units held by D. BORAL SPONSOR I LLC that are not presently exercisable. (3) The percentage set forth in Row 11 of this Cover Page is based on 43,271,429, which consists of (i) 28,750,000 Class A ordinary shares of the Issuer issued in the Issuer's initial public offering, (ii) 12,321,429 Class B ordinary shares of the Issuer issued to D. BORAL SPONSOR I LLC, (iii) the 200,000 shares of Class A common stock of the Issuer underlying the private units beneficially owned by the Reporting Person as set forth in Row 9, and (iv) 2,000,000 shares of Class A common stock held by David Boral, John Darwin and Mark Iorio. By virtue of their shared control of D. BORAL SPONSOR I LLC, Mr. Boral and Mr. Darwin may be deemed to have beneficial ownership of the shares held directly by D. BORAL SPONSOR I LLC. Mr. Darwin disclaims any beneficial ownership of the shares held by D. BORAL SPONSOR I LLC, except to the extent of his pecuniary interest therein.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: D. Boral Acquisition I Corp.
(b)	Address of issuer's principal executive offices: 590 Madison Ave., New York, New York 10022
Item 2.
(a)	Name of person filing: This Schedule 13G is being jointly filed, pursuant to a Joint Filing Agreement attached hereto as Exhibit 99.1, by the following entities and persons, all of whom are together referred to herein as the "Reporting Persons": (i) D. BORAL SPONSOR I LLC, (ii) David Boral, and (iii) John Darwin. David Boral and John Darwin are the managers of D. BORAL SPONSOR I LLC and hold voting and investment discretion with respect to the ordinary shares held of record by D. BORAL SPONSOR I LLC. Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of the information furnished by another Reporting Person. Pursuant to Rule 13d-4 of the Securities Exchange Act of 1934, as amended, the Reporting Persons expressly declare that the filing of this statement shall not be construed as an admission that any such person is, for the purposes of Section 13(d) and/or Section 13(g) of the Act or otherwise, the beneficial owner of any securities covered by this schedule held by any other person and such beneficial ownership is expressly disclaimed.
(b)	Address or principal business office or, if none, residence: 590 Madison Ave., New York, New York 10022
(c)	Citizenship: (i) D. BORAL SPONSOR I LLC - Delaware; (ii) David Boral - United States; (iii) John Darwin -- United States
(d)	Title of class of securities: Class A common stock, par value $0.0001 per share
(e)	CUSIP Number(s): G2616T101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person and is incorporated herein by reference for each such Reporting Person.
(b)	Percent of class: - %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: -
	(ii) Shared power to vote or to direct the vote: -
	(iii) Sole power to dispose or to direct the disposition of: -
	(iv) Shared power to dispose or to direct the disposition of: -
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

D. BORAL SPONSOR I LLC

Signature:	/s/ David Boral
Name/Title:	David Boral, Manager
Date:	03/31/2026

Signature:	/s/ John Darwin
Name/Title:	John Darwin, Manager
Date:	03/31/2026

David Boral

Signature:	/s/ David Boral
Name/Title:	David Boral
Date:	03/31/2026

John Darwin

Signature:	/s/ John Darwin
Name/Title:	John Darwin
Date:	03/31/2026

Comments accompanying signature: 99.1 Joint Filing Agreement among the Reporting Persons regarding filing of Schedule 13G, dated 03/31/2026.

FAQ

What ownership does D. BORAL SPONSOR I LLC report in DBCA?

D. BORAL SPONSOR I LLC reports beneficial ownership of 12,521,429 ordinary shares representing 28.94% of the referenced 43,271,429 share base. The count includes Class B founder shares convertible into Class A shares and 200,000 Class A shares underlying private units.

How many DBCA shares do David Boral and John Darwin each report?

Both David Boral and John Darwin report beneficial ownership of 13,421,429 shares, each equal to 31.02% of the 43,271,429 share base. Their positions reflect founder shares held by the sponsor entity plus individual Class A holdings.

What share total is the percentage based on in the DBCA filing?

The reported percentages are based on a 43,271,429 share denominator. That base consists of IPO Class A shares, Class B founder shares held by the sponsor, private-unit underlying Class A shares, and certain Class A shares held by named individuals.

Are any DBCA shares excluded from these beneficial ownership counts?

Yes. The filing excludes 100,000 Class A shares that may be issued upon exercise of warrants underlying private units held by the sponsor; those warrants are described as not presently exercisable in the disclosure.

Who holds voting and investment discretion for the sponsor's DBCA shares?

The filing states that David Boral and John Darwin are managers of D. BORAL SPONSOR I LLC and hold voting and investment discretion over the ordinary shares recorded in the sponsor's name, which may cause them to be deemed beneficial owners.