Mrs. Veena Jain has acquired 50,67,750 shares in Magnum Ventures Limited through transmission following the death of Mr. Parmod Kumar Jain. The off-market transaction, executed on June 25, 2026, involved the transfer of shares from the deceased promoter to his wife and nominee. This disclosure was filed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The transmission of shares took place entirely within the Promoter Group. Prior to the acquisition, Mr. Parmod Kumar Jain held 50,67,750 shares, representing 7.41% of the company's total voting capital. Following the transfer, Mrs. Veena Jain's total holding increased to 54,52,750 shares, which constitutes 7.97% of the total paid-up share capital.

The aggregated shareholding of the Promoter Group remains unchanged at 55.21% of the total voting capital before and after the transaction. The disclosure identified several Persons Acting in Concert (PAC) with the acquirer, including Mr. Parv Jain, Mr. Parveen Jain, and Mr. Pradeep Kumar Jain.

Shareholding Details

The following table outlines the changes in holdings for key individuals involved in the transaction:

Regulatory Filing

The acquisition was classified as an off-market transmission of shares due to the death of a promoter. The filing confirmed that no warrants or convertible securities were involved in the transaction. The shares were transmitted without any encumbrance, pledge, or lien. The company's stock is listed on both BSE Ltd. and National Stock Exchange India Ltd.

Magnum Ventures received observation letters from BSE Limited and National Stock Exchange of India Limited regarding its proposed scheme of arrangement with Magnum Paperz Limited. The exchanges issued their 'no adverse observation' on July 17, 2026, subject to the company complying with specific conditions and regulatory provisions. The scheme involves the demerger of Magnum Ventures Limited into Magnum Paperz Limited under Sections 230 to 232 of the Companies Act, 2013.

The stock exchanges, based on comments from SEBI, mandated several disclosures to be made to shareholders and the National Company Law Tribunal (NCLT). The company must disclose all details of ongoing adjudication, recovery proceedings, and enforcement actions against itself, its promoters, and directors. Additionally, the entity is required to clearly disclose details of non-compliance with the Takeover Regulations and pending Settlement Applications filed with SEBI.

Financial and Operational Disclosures

The exchanges directed the company to include specific financial and operational data in the explanatory statement sent to shareholders. This includes the rationale for the demerger, synergies, and a cost-benefit analysis. A detailed financial table covering the last three years for both entities must be provided, though the specific figures were not disclosed in the filing.

Conditions for Listing

The listing of equity shares of Magnum Paperz Limited remains subject to SEBI granting relaxation under Rule 19(2)(b) of the Securities Contract (Regulation) Rules, 1957. The company must submit an Information Memorandum containing all details of Magnum Paperz Limited to the exchanges and publish an advertisement in newspapers referencing this memorandum. The shares allotted pursuant to the scheme will remain frozen in the depository system until listing or trading permission is granted by the designated stock exchange.

Procedural Requirements

The validity of the observation letters is six months from July 17, 2026, within which the scheme must be submitted to the NCLT. The company must disclose the No-Objection letters from the stock exchanges on its website within 24 hours of receipt. The exchanges reserved the right to withdraw their 'no adverse observation' if any information submitted is found to be incomplete, incorrect, or misleading.