Magnum Ventures Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 20, 2025
MAGNUM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Magnum Ventures Limited has called an Extraordinary General Meeting on Friday, June 20, 2025 at 1:00 PM via video conferencing. Three special resolutions are on the agenda: (1) enhancing the company's borrowing limit under Section 180(1)(c) of the Companies Act to up to ₹1,000 Crores from any existing cap; (2) enhancing the Board's power under Section 180(1)(a) to create mortgages, charges, or encumbrances over company assets up to ₹1,000 Crores to secure such borrowings; and (3) issuing up to 40,000 listed, rated, secured, redeemable, non-convertible debentures (NCDs) of face value ₹1,00,000 each, aggregating up to ₹400 Crores, on a private placement basis. Of the ₹400 Crores NCD issuance, up to ₹240 Crores is earmarked for the Neo Special Credit Opportunities Fund or other Neo Group-managed funds, with the balance ₹160 Crores going to other investors pre-approved by the Neo Group as part of a consortium. E-voting will run from June 17 (9:00 AM) to June 19, 2025 (5:00 PM) via NSDL, with the cut-off date set at June 13, 2025.
If approved, the resolutions will materially expand the company's debt-raising capacity (up to ₹1,000 Crores) and authorise a substantial NCD issuance of up to ₹400 Crores, increasing leverage and potentially diluting control depending on convertible features. The prominent role of the Neo Group—nominating co-investors and anchoring up to ₹240 Crores—suggests a significant strategic investor relationship that existing shareholders should evaluate for influence over the company's capital structure and future direction.