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Magnus Steel & Infra Limited (formerly Magnus Retail Ltd), listed on BSE (Scrip: 517320), held an Extraordinary General Meeting on February 10, 2026 via video conferencing, lasting 33 minutes. Two special resolutions were passed with overwhelming approval. Resolution 1 approved the issuance of equity shares on a preferential basis to non-promoters for cash consideration, receiving 15,62,415 votes in favour (99.99%) and just 100 votes against (0.01%). Resolution 2 approved the shifting of the company's registered office, also passing with 99.99% support. The company has 11,800 shareholders on record, with promoters (holding 15,59,215 shares) voting unanimously in favour of both resolutions, while public non-institutional shareholders showed very low participation (only 3,300 shares voted out of 18,21,085 held).
Shareholders approved a preferential share issue to non-promoters, which will dilute existing shareholdings, though the company has not disclosed the number of shares to be issued or the issue price. The registered office shift is administrative and unlikely to affect stock price. Both resolutions sailed through with near-unanimous promoter and public support, indicating no shareholder dissent.