Magnum Ventures Limited has informed the Exchange regarding 'Meeting updates'.
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Magnum Ventures has finalised the terms for issuing up to 5,000 secured, rated, listed, redeemable NCDs with a face value of INR 1 lakh each, aggregating up to INR 50 crores. This is part of a larger INR 400 crore NCD issuance approved by the Board in May 2025 and by shareholders in June 2025. The NCDs carry a high coupon rate of 18% per annum, payable monthly, with maturity on 31 August 2027. The investor is Neo Special Credit Opportunities Fund (managed by Neo Asset Management) along with co-investors. The proceeds will be used for capital expenditure and working capital needs.
This is a debt raise, so there is no equity dilution for existing shareholders. However, the steep 18% interest rate is a red flag signalling higher borrowing cost, possibly reflecting credit risk. Promoters have given personal guarantees and pledged over 83 lakh equity shares as collateral, which increases their financial exposure and risk if the company faces default.