Magnus Steel & Infra to set rights issue terms on Oct 21
- Magnus Steel & Infra Ltd scheduled a Rights Issue Committee meeting for October 21, 2026
- The committee will determine the issue price, entitlement ratio, and record date
- The company aims to raise up to ₹40 crore via fully paid-up equity shares
- Trading window closed from October 15, 2026, until 48 hours post-meeting
- Board previously approved the rights issue on July 15, 2026
*this image is generated using AI for illustrative purposes only.
Magnus Steel & Infra Ltd will convene its Rights Issue Committee on October 21, 2026, to determine the final issue price and other critical terms of its proposed capital raise. The company plans to mobilize up to ₹40 crore through the issuance of fully paid-up equity shares.
The committee meeting, scheduled for Wednesday, October 21, 2026, follows the Board of Directors' approval of the rights offer on July 15, 2026. The primary agenda includes deciding the specific terms such as the rights entitlement ratio, record date, and the payment mechanism for the eligible shareholders.
Rights Issue Details
The proposed raise involves equity shares with a face value of ₹10 each. The issuance is structured in compliance with the Companies Act, 2013, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The total amount sought does not exceed ₹40,00,00,000.
| Component | Detail |
|---|---|
| Issue Type | Rights Issue |
| Maximum Amount | ₹40 crore |
| Face Value | ₹10 per share |
| Committee Meeting Date | October 21, 2026 |
| Board Approval Date | July 15, 2026 |
Insider Trading Restrictions
In line with the Code of Conduct for Prevention of Insider Trading under SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the company's equity shares has been closed. This restriction is effective from Thursday, October 15, 2026.
The window will remain closed until 48 hours after the conclusion of the Rights Issue Committee meeting. This measure ensures that no insider information regarding the pricing or terms is exploited during the decision-making process. The company has also received in-principle approval from the stock exchange prior to this announcement.
Historical Stock Returns for Magnus Steel & Infra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.43% | +7.83% | +42.48% | -72.89% | +164.66% | +1,566.67% |
How will the final issue price determined on October 21 impact the dilution of existing shareholders' equity?
What specific capital expenditure projects or debt reduction plans will Magnus Steel prioritize with the ₹40 crore proceeds?
How might the closure of the trading window until October 23 affect short-term liquidity and trading volumes for the stock?
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