Promoter Extends Pledge of Shares for Magnum Ventures Limited's Additional NCD Financing
Magnum Ventures Limited has announced that Mr. Parv Jain, a member of the Promoter Group, has extended a pledge covering 83,24,255 Equity shares in the company. This action was taken under terms related to 18% Listed, Secured, Redeemable, NonConvertible Debentures (NCDs).The pledge extension, formalized through an agreement dated June 8, 2026, relates to securing an additional INR 50 Crores. This new security complements the existing structure designed to support a total of INR 230 Crore in NCD financing. Mr. Jain currently holds 1,27,61,755 Equity Shares in Magnum Ventures Limited.
The debt is structured as Non-Convertible Debentures and involves Neo Special Credit Opportunities Fund as the lender and Magnum Ventures Limited as the borrower.
Details of the financing structure are summarized below:
| Particulars | Details |
|---|---|
| Lender | Neo Special Credit Opportunities Fund |
| Borrower | Magnum Ventures Limited |
| Nature of Loan | 18% Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) |
| Total Amount | INR 230 Crores (Disbursed) and Additional INR 50 Crores (To be disbursed) |
The loan agreements relating to the security were executed over multiple dates: an agreement for INR 150 Crores was executed on February 9, 2024; an agreement for INR 30 Crores was executed on January 16, 2025; and the most recent agreement for INR 50 Crores was executed on August 5, 2025.
In addition to the pledged shares, comprehensive security measures have been put in place for the NCDs. These include:
- A pari passu charge with existing non-convertible debentures over all fixed and intangible assets of the Company of Paper Division.
- A pari passu charge with existing non-convertible debentures over all current assets of the Company of Paper Division.
- The maintenance of a 1 month debt service reserve in the form of a fixed deposit.
- A personal guarantee provided by Mr. Pradeep Kumar Jain, Mr. Abhay Jain, and Mr. Parv Jain.
Furthermore, additional post dated cheques were held by Mr. Parv Jain pertaining to cross collateralization with the company's existing non-convertible debentures. The transaction is not classified as a related party transaction.
MAGNUM Stock Price Movement
On Tuesday, shares of Magnum Ventures Limited edged higher to settle at ₹19.91, marking a 1.42% gain in the market session. The stock closed amidst trading activity involving 41,836 shares.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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