Magnus Steel Confirms EGM February 10 for ₹45 Crore Preferential Issue
Magnus Steel and Infra Limited has formally notified shareholders of its EGM on February 10, 2026, to approve a ₹45 crore preferential issue of 4.5 crore equity shares to five non-promoter investors and relocate its registered office from Nashik to Pune. The company has established e-voting from February 6-9 with a cut-off date of February 3, and outlined fund utilization for working capital and general corporate purposes.
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Magnus Steel and Infra Limited has issued the formal notice for its Extraordinary General Meeting (EGM) scheduled on February 10, 2026, at 3:00 PM through video conferencing. The meeting will address the previously announced ₹45.00 crore preferential issue of equity shares and a proposed registered office relocation.
EGM Schedule and E-Voting Details
The company has established a comprehensive timeline for shareholder participation in the upcoming EGM. Members will have multiple opportunities to cast their votes through remote e-voting or during the meeting itself.
| Parameter: | Details |
|---|---|
| EGM Date: | February 10, 2026 at 3:00 PM |
| Cut-off Date: | February 3, 2026 |
| Remote E-voting Period: | February 6, 2026 (9:00 AM) to February 9, 2026 (5:00 PM) |
| Meeting Mode: | Video Conferencing/OAVM |
| Scrutinizer: | Mr. Ritesh Sharma (Membership No. 20742) |
Preferential Issue Details
The EGM will seek shareholder approval for the issuance of 4,50,00,000 equity shares of face value ₹10.00 each at an issue price of ₹10.00 per share. The preferential allotment will be made to five non-promoter investors, with the relevant date for price determination set as January 9, 2026.
| Proposed Allottee: | Shares Allocated | Investment Amount |
|---|---|---|
| M/s. Nautilus Private Capital Ltd: | 1,00,00,000 | ₹10.00 crores |
| MGO High Conviction Fund Incorporated VCC Sub-Fund: | 1,00,00,000 | ₹10.00 crores |
| M/s. Al Malaki Foodstuff Trading LLC: | 1,00,00,000 | ₹10.00 crores |
| Mr. Manoj Sambhaji Sawant: | 1,00,00,000 | ₹10.00 crores |
| Ms. Arti Vicky Anjaria: | 50,00,000 | ₹5.00 crores |
Fund Utilization and Corporate Governance
The company has outlined specific objectives for the raised funds, with at least ₹33.75 crores allocated for working capital requirements and up to ₹11.25 crores for general corporate purposes. The allotment must be completed within 15 days of shareholder approval, subject to regulatory clearances.
The shares will be subject to lock-in provisions as prescribed under SEBI ICDR Regulations and will rank pari passu with existing equity shares. A valuation report has been prepared by registered valuer Rashmi Shah FCA (IBBI Reg. No. IBBI/RV/06/2018/10240) to support the pricing determination.
Registered Office Relocation Proposal
As a second agenda item, shareholders will vote on relocating the company's registered office from Unit No. 365, At/Post: Shirasgaon, Tal: Niphad, Dist: Nashik – 422001 to E-101 La Vida Loca, Pimple Saudagar, Pune – 411027. The board approved this relocation on December 22, 2025, citing operational efficiency and strategic positioning benefits.
Shareholding Impact
Post-preferential issue, the promoter shareholding will decrease from 46.13% to 3.22%, while public shareholding will increase to 96.78%. The company confirmed that no change in management control will occur as all allottees belong to the non-promoter category.
The EGM notice has been sent electronically to registered shareholders, with the complete documentation available on the company website at www.magnussteelinfra.in and BSE's portal.
Historical Stock Returns for Magnus Steel & Infra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.00% | +12.54% | +24.33% | +991.63% | +1,160.90% | +3,181.29% |
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