Outcome for Meeting of the Right Issue Committee of Magnus Steel & Infra Limited(Formerly Known as Magnus Limited).
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The Rights Issue Committee of Magnus Steel and Infra Ltd met on June 20, 2025, and approved the Draft Letter of Offer (DLOF) for a proposed rights issue. The company plans to raise up to Rs. 49.50 crore by issuing fully paid-up equity shares of Rs. 10 face value to its existing eligible shareholders. The issue price and entitlement ratio are yet to be decided by the Board at a later date, and the record date will be notified in due course. The rights issue is subject to in-principle approval from BSE and compliance with SEBI ICDR Regulations.
Existing shareholders should watch for the announcement of issue price and ratio, as these will determine the dilution and effective cost of subscribing. Rights issues can be dilutive if shareholders do not subscribe, and the stock may face short-term pressure once terms are finalized.