Magnus Steel and Infra Limited held a Board of Directors meeting on Wednesday, July 15, 2026, from 12:30 PM to 1:45 PM at its registered office. The meeting was convened pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Decisions Approved:

1. Rights Issue Approval: The Board approved raising funds through issuance and allotment of equity shares with face value of ₹10.00 each (Rupees Ten Only) for an aggregate amount not exceeding ₹40,00,00,000/- (Rupees Forty Crores Only) on a right issue basis.

2. Terms and Conditions: The rights issue will be offered to eligible equity shareholders of the Company as on a record date to be notified subsequently. The specific terms and conditions, including issue price and right entitlement ratio, will be decided by the Board of Directors.

3. Regulatory Compliance: The issuance is subject to receipt of applicable regulatory and statutory approvals and will be conducted in accordance with:

  • Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
  • Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Companies Act, 2013 and relevant rules

4. Document Approval: The Board approved the Draft Letter of Offer and other relevant documents in relation to the Rights Issue to be filed with BSE Limited.

5. Committee Formation: The Board constituted a Rights Issue Committee consisting of:

  • Mr. Karronn Bajaj (Chairman)
  • Mr. Kunal Sarothia (Member)
  • Mrs. Priya Gupta (Member)

6. Committee Authority: The Rights Issue Committee is authorized to appoint various intermediaries and perform all necessary acts, deeds, and matters required for the Rights Issue process.

Annexure A Details:

  • Type of Securities: Equity Shares of face value of ₹10.00 each
  • Type of Issuance: Rights Issue
  • Total Amount: Up to ₹40.00 Crores (Rupees Forty Crores only)
  • Specifics: The exact price and right entitlement ratio will be decided by the Board of Directors or the Rights Issue Committee

Financial Impact:

The rights issue will potentially raise up to ₹40 crores in equity capital, subject to shareholder participation and regulatory approvals. The specific financial impact on capital structure and dilution will be determined once the issue price and entitlement ratio are finalized.