Magnum Ventures Limited has informed the Exchange regarding 'Updates'.
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Awaiting price reaction for this filing.
Mr. Parv Jain, a member of the Promoter Group, has extended the pledge of 83,24,255 equity shares (roughly 65% of his 1.27 crore shareholding in the company) via a Second Amended & Restated Share Pledge Agreement dated 5th August 2025. The pledged shares serve as security for an additional ₹50 crore of 18% Listed, Secured, Redeemable Non-Convertible Debentures (NCDs), which is being raised on top of the existing ₹180 crore of similar NCDs already disbursed — taking total NCD borrowing to ₹230 crore from Neo Special Credit Opportunities Fund. Catalyst Trusteeship Limited is the debenture trustee. The borrowing is also backed by personal guarantees from other promoters — Mr. Pardeep Kumar Jain and Mr. Abhay Jain — along with a pari passu charge on the company's fixed, intangible, and current assets, and an exclusive charge over a debt service reserve in the form of a fixed deposit.
The 18% interest rate on NCDs signals that the company is borrowing at a steep cost, which may indicate stress in accessing cheaper funds. With nearly two-thirds of the pledging promoter's holdings already encumbered, any default or share price weakness could trigger forced selling, putting pressure on the stock. Retail investors should monitor the company's debt servicing capacity and any further pledge actions closely.