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Magnus Steel and Infra Limited has issued a corrigendum to the notice of its Extra-Ordinary General Meeting (EGM) scheduled for February 10, 2026, at 3:00 p.m. via video conferencing. The correction was prompted by BSE's communication dated January 28, 2026, seeking clarification on the proposed preferential issue. The error relates to the post-allotment shareholding percentage of proposed allottee Ms. Arti Anjaria, which has been revised from 11.11% to 10.33% (the actual number of shares to be allotted — 50,00,000 — remains unchanged). The EGM seeks shareholder approval via special resolution for a preferential allotment of 4.5 crore equity shares to 5 non-promoter allottees: Nautilus Private Capital Ltd (20.67%), MGO High Conviction Fund VCC (20.67%), Al Malaki Foodstuff Trading LLC (20.67%), Manoj Sawant (20.67%), and Ms. Arti Anjaria (10.33%). All other terms of the original EGM notice remain unchanged.
This is a procedural correction with no change in the number of shares being allotted or the total dilution; shareholders' voting intent is unlikely to be affected. However, the underlying EGM itself proposes a substantial preferential issue of 4.5 crore shares to non-promoters, which represents significant potential dilution for existing shareholders. The total of all allotments equals 93% of the post-issue shareholding, indicating a major change in the shareholder base.