The Exchange has received the Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011 on August ....
MAGNUM · price
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On the reaction day the stock moved 1.1 pts more than Nifty Microcap 250 and 1.3 pts more than its Paper & Paper Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Promoter Parv Jain has filed a disclosure under SEBI SAST Regulations regarding an amendment to an existing pledge of his shares in Magnum Ventures Ltd. The pledge, originally created on 27 September 2024 for Rs 150 crore NCDs and amended in January 2025 for an additional Rs 30 crore, has been further amended on 5 August 2025 to cover an additional Rs 50 crore of 18% listed, secured, redeemable, non-convertible debentures (NCDs), rated BB. The number of shares pledged remains unchanged at 83,24,255 (12.5% of total share capital), meaning the same shares are now securing a larger total debt, reducing the security cover ratio from 1.08x to 0.38x. Total promoter holding stands at 3,77,67,554 shares (56.8%), with encumbered shares representing 22% of promoter shareholding, well below the 50% threshold.
While the promoter remains in control and the pledge level is not alarming, the declining security cover (shares now cover only 0.38x of the borrowed amount vs 1.08x earlier) signals rising leverage risk on the pledged shares. Shareholders should monitor for any further encumbrance, invocation, or decline in share price that could trigger margin calls.