Magnus Steel and Infra Postpones Rights Issue Committee Meeting Pending Exchange Approval
Magnus Steel and Infra Ltd, formerly known as Magnus Retail Limited, has announced the postponement of its Rights Issue Committee meeting. The meeting was originally scheduled for July 21, 2026, to consider and approve crucial aspects related to the company's planned rights issue.The decision to postpone the meeting comes as the company awaits In-Principle approval from the Stock Exchange concerning the proposed Rights Issue. This rights issue was previously approved by the Board of Directors during a meeting held on July 15, 2026.
The committee meeting, which had been scheduled for Tuesday, July 21, 2026, is now postponed. The company stated that the meeting will be held within the next working day after receiving the official In-principle approval letter from the stock exchange. This approval process is necessary before terms such as the record date, issue price, and entitlement ratio can be finalized.
Stock Price Movement
Magnus Steel and Infra Ltd. settled on Tuesday after shedding 4.99%, closing at ₹52.17. The shares saw movement throughout the day, trading within an intraday range that stretched from a low of ₹52.17 to a high of ₹54.90.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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