Key Quantitative Figures

  • Number of shares pledged: 83,24,255 equity shares
  • Additional NCD amount secured: ₹50 crore
  • Total existing NCD amount: ₹230 crore (already disbursed)
  • Total secured NCDs after extension: ₹280 crore
  • Pledgor's total shareholding: 1,27,61,755 equity shares in Magnum Ventures Limited
  • Interest rate on NCDs: 18%

Dates of Action

  • Pledge agreement date: 8th June, 2026
  • Disclosure date: 9th June, 2026
  • Historical NCD agreement dates:
  • ₹150 crore agreement executed on 9 February 2024
  • ₹30 crore agreement executed on 16 January 2025
  • ₹50 crore agreement executed on 5 August 2025
  • ₹50 crore agreement executed on 8 June 2026

Parties Involved

  • Pledgor: Mr. Parv Jain (member of Promoter Group)
  • Debenture Trustee: Catalyst Trusteeship Limited
  • Issuer Company: Magnum Ventures Limited
  • Compliance Officer: Aaina Gupta, Company Secretary cum Compliance Officer

Purpose and Rationale

The purpose of entering into this agreement is to secure an additional INR 50 Crore, 18% Listed, Secured, Redeemable, Non-Convertible Debentures, complementing the existing securing of INR 230 Crore NCDs.

Security Terms and Significant Rights

The Third Amended & Restated Unattested Share pledge agreement grants the Security Agent (Debenture Trustee) significant rights including:

  • To receive all amounts payable in respect of the Collateral
  • To invoke the Pledges on the Collateral and/or transfer or register in its name
  • To exercise powers conferred pursuant to the Pledge Power of Attorney
  • To vote on all or any part of the Collateral, receive dividends, interest and other distributions
  • To sell the Collateral in accordance with Clause 6.2 of second amended and restated unattested pledge agreement
  • To exercise other rights and remedies available under Applicable Law

Additional Security Provided to Lenders

  • Pari passu charge with existing non-convertible debentures over all fixed and intangible assets of the Company's Paper Division
  • Pari passu charge with existing non-convertible debentures over all current assets of the Company's Paper Division
  • 1 month debt service reserve to be maintained in the form of fixed deposit
  • Personal guarantee of Mr. Pradeep Kumar Jain, Mr. Abhay Jain and Mr. Parv Jain
  • Pledge of 83,24,255 Equity Shares held by Mr. Parv Jain in Magnum Ventures Limited
  • Post dated cheques
  • Cross collateralization with existing non-convertible debentures issued by the Company

Relationship Disclosure

The Pledgor (Mr. Parv Jain) is part of the Promoter Group. The transaction does not fall within related party transactions.