Magnum Ventures Limited has submitted the Exchange a copy Srutinizers report of undefined held on Jun 20, 2025
MAGNUM · price
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Magnum Ventures held an Extra-Ordinary General Meeting on June 20, 2025, where three special resolutions were passed with overwhelming shareholder support. All three resolutions received 99.99% votes in favor, with only 26 votes against out of 3,77,49,368 valid votes polled. The resolutions approved: (1) enhancement of borrowing limits under Section 180(1)(c) of the Companies Act, 2013, (2) enhancement of Board's power under Section 180(1)(a), and (3) issuance of up to 40,000 listed, rated, redeemable, secured, non-convertible debentures of face value ₹1,00,000 each, aggregating up to ₹400 crore in one or more tranches. Promoters (holding 3,77,67,554 shares) voted 100% in favor of all resolutions. The meeting was conducted via e-voting through NSDL platform, and scrutinizer Hardik Darji of HD and Associates certified the results.
Shareholders have cleared the way for the company to raise up to ₹400 crore through listed NCDs and expand its borrowing limits, signaling potential debt-led growth or expansion plans. The near-unanimous approval (99.99% in favor) including full promoter backing suggests strong internal confidence, though shareholders should watch for dilution risks if proceeds involve further issuances or higher debt servicing costs.