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 June ....
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Promoter Parv Jain (CFO and Promoter Group) has extended an existing pledge of 83,24,255 shares (12.17% of total share capital) on 8th June 2026. The pledge is in favor of Catalyst Trusteeship Limited (Debenture Trustee) for the benefit of Neo Special Credit Opportunities Fund, and relates to an additional tranche of 18% Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs) of Rs 50 Crores issued by Magnum Ventures Limited itself. Total promoter shareholding stands at 3,77,67,554 shares (55.21% of share capital), with overall encumbered promoter shares at 22% of promoter holding. The security cover value of pledged shares is Rs 32.61 Crores against a debt of Rs 50 Crores. Repayment of the NCDs is scheduled to run through March 2031. This is an amendment/extension of an already existing pledge, not a fresh creation or invocation.
This is a routine amendment extending an existing pledge to secure additional company-issued NCDs, not a new risk. With promoter holding still at 55.21% and only 22% of promoter shares encumbered, there is no immediate threat to promoter control or a forced sell-off scenario.