Rights Issue terms approved - 59 shares for every 5 held, record date Oct 27
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On the reaction day the stock moved 1.4 pts less than Nifty Microcap 250 and 0.7 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Magnus Steel and Infra's Rights Issue Committee approved terms for a rights issue aggregating about Rs. 39.89 crores through roughly 3.99 crore equity shares at Rs. 10 per share, issued at par. Entitlement ratio is 59 shares for every 5 held, meaning roughly 11.8 new shares per existing share, a very steep dilution. Record date is October 27, 2026. Issue opens November 12, 2026 and closes December 1, 2026. Current shares stand at 33.80 lakh, which would expand to about 4.33 crore post issue if fully subscribed.
Massive dilution of nearly 12 times existing shares. Shareholders on record by Oct 27, 2026 will receive rights entitlements and must decide whether to subscribe or renounce.