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Awaiting price reaction for this filing.
Magnus Steel and Infra Ltd (formerly Magnus Retail Ltd) has called an EGM on February 10, 2026 at 3:00 PM via video conferencing to seek shareholder approval for two special business items. The first and key item is a preferential issue of 4.5 crore equity shares at Rs. 10 per share to 5 non-promoter allottees, raising Rs. 45 crore in total. Allottees include Nautilus Private Capital Ltd, MGO High Conviction Fund, Al Malaki Foodstuff Trading LLC, Manoj Sambhaji Sawant, and Arti Vicky Anjaria. The second item is the shifting of the registered office from Nashik to Pune. The issue price is at par since the stock is classified as infrequently traded on BSE, with a registered valuer's report supporting the pricing. E-voting window is February 6-9, 2026, with cut-off date of February 3, 2026.
If approved, the Rs. 45 crore preferential issue will dilute existing shareholders' stakes but strengthen the company's capital base — at least Rs. 33.75 crore is earmarked for working capital and up to Rs. 11.25 crore for general corporate purposes. The price is set at Rs. 10 (at par, face value), which could be dilutive given the company notes the stock is infrequently traded. Shareholders should review the proposal carefully before the EGM.