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Magnus Steel and Infra Ltd has corrected a typographical error in the entitlement ratio for its ongoing Rights Issue, originally announced after the Board meeting on October 6, 2025. The ratio was initially stated as 2 equity shares for every 29 shares held, but the correct ratio is 29 equity shares for every 2 shares held by eligible shareholders as on the record date. This means for every 2 shares an investor owns, they can subscribe to 29 new shares under the rights issue. All other terms and conditions of the Rights Issue remain unchanged. The clarification has been signed by Managing Director and CEO Karronn Bajaj.
Existing shareholders should review their entitlement carefully, as the corrected ratio (29:2) is a much larger offering than the originally stated 2:29, which could mean a significant capital raise and substantial potential dilution. Investors who relied on the earlier incorrect ratio may need to reassess their participation plans.