Magnus Steel and Infra Approves Rights Issue for Up To Rs 40 Crores
Magnus Steel and Infra Ltd, formerly known as Magnus Retail Limited, has announced that its Board of Directors approved the issuance and allotment of equity shares through a rights issue to raise funds. The decision was made following the company’s board meeting held on July 15, 2026.The approval grants the company the authority to raise up to Rs 40 crore (Rupees Forty Crores only) by issuing equity shares to eligible equity shareholders. These Equity Shares have a face value of Rs 10.00/- each and will be offered on a rights issue basis. The offering is subject to receiving all applicable statutory and regulatory approvals, and terms and conditions are yet to be finalized by the Board of Directors.
In addition to the fund raising approval, the company approved the Draft Letter of Offer and other relevant documents pertaining to the Rights Issue for filing with BSE Limited.
The meeting also saw the constitution of a specialized Rights Issue Committee tasked with overseeing the process. The committee members are Mr Karronn Bajaj (Chairman), Mr Kunal Sarothia (Member), and Mrs Priya Gupta (Member). This committee has been authorized to appoint various intermediaries and perform all necessary actions related to the successful completion of the Rights Issue.
The details of the planned capital raising initiative are summarized in the table below:
| Disclosure Requirement | Details |
|---|---|
| Type of Securities Proposed | Equity Shares of face value of INR 10.00/- each |
| Type of Issuance | Rights Issue |
| Total Amount for Issue | Up to Rs 40.00 Crores (Rupees Forty Crores only) |
Magnus Steel and Infra Ltd has advanced its capital structure planning by setting up the necessary operational framework, including forming the dedicated committee and approving critical documentation related to this large-scale rights issue.
Stock Price Movement
As of 14:15, Magnus Steel and Infra Ltd shares are ticking up at ₹64.03, gaining 4.98%. The stock experienced significant intraday movement, trading between a low of ₹57.95 and an intra-day high of ₹64.03.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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