Magnus Steel & Infra Ltd has scheduled a board meeting for July 14, 2026, to consider raising funds to augment its financial resources. The board will evaluate various methods, including the issuance of equity shares, convertible instruments, or other securities through preferential allotment, rights issue, qualified institutional placements (QIPs), American Depository Receipts (ADRs), Global Depository Receipts (GDRs), Foreign Currency Convertible Bonds (FCCBs), or any combination thereof in one or more tranches.

The meeting will be held at the company's registered office. In addition to the fund-raising proposal, the board will consider any other matter with the permission of the Chair.

In compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's code of conduct, the trading window for dealing in the company's securities by designated persons and their immediate relatives has been closed from July 9, 2026. This window will remain closed until 48 hours after the conclusion of the board meeting.

Key Meeting Details

The intimation was submitted to the Bombay Stock Exchange Ltd. in accordance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Magnus Steel & Infra Ltd has appointed Karronn Bajaj as Managing Director effective July 8, 2026, subject to the approval of members. The Board accepted the resignations of Managing Director Chinmay Pradhan, Additional Executive Director Prakash Salve, and Non-Executive Independent Director Aarti Singh, all effective from the close of business hours on July 8, 2026. The company confirmed that the composition of its Board and committees continues to comply with applicable laws following these departures.

The Board meeting, held on July 8, 2026, approved the changes based on the recommendations of the Nomination and Remuneration Committee. Chinmay Pradhan resigned due to increased professional and personal commitments, while Prakash Salve and Aarti Singh cited personal commitments for their respective resignations. The company stated there were no material reasons for the resignations other than those provided in their resignation letters.

Karronn Bajaj, who was previously a Director, brings over nine years of experience in steel trading and manufacturing. He has been a director of Bajaj Tabular Products Pvt Ltd since 2015. The company disclosed that Bajaj holds 7,54,733 shares and is the brother of Aditya Bajaj and son of Naresh Bajaj, both associated with the company.

Pursuant to the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board reconstituted its key committees with immediate effect. Ms. Kunal Sorathia was appointed Chairperson of the Audit Committee, while Ms. Priya Gupta will chair the Nomination and Remuneration Committee. Ms. Naresh Bajaj was named Chairperson of the Stakeholders Relationship Committee.

The reconstituted committees include the following members: