Announced Tue, 16 Jun · 12:05 IST
Magnum Ventures allots Rs 50 cr NCDs at 18% to Neo Asset Management fund
MAGNUM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+2.1%1-day move
₹19.86
prior close
₹20.01
base price
In-mkt
timing
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+0.0+0.0+0.0+0.0+2.1-0.3-1.1-0.6-1.7-1.8-1.4-5.0——
Up moveDown movePending
AI summary
Magnum Ventures allotted 5,000 secured, rated, listed NCDs of Rs 1 lakh face value each, totaling Rs 50 crore, via private placement to Neo Special Credit Opportunities Fund (managed by Neo Asset Management). NCDs carry an 18% annual coupon paid monthly, with tenure of ~4 years 9 months maturing March 31, 2031. Proceeds are for working capital. Secured by pari passu charges on paper division assets, personal guarantees from promoters, and pledge of ~83.24 lakh promoter shares.
Likely market impact
18% coupon signals heavy debt servicing burden; pledge of 83L promoter shares adds risk. Fresh working capital is positive but cost is steep.