Magnus Steel and Infra Limited announced the outcome of its board meeting held on January 15, 2026, where directors approved a preferential issue of equity shares worth ₹45.00 crores. The company has scheduled an Extraordinary General Meeting (EGM) on February 10, 2026, through video conferencing to seek shareholder approval for the proposed allotment.

Board Meeting Decisions

The board meeting, which commenced at 5:30 PM and concluded at 7:00 PM, approved the issuance of 4,50,00,000 equity shares of face value ₹10.00 each on a preferential basis to non-promoters. The shares will be issued at an issue price of ₹10.00 per share, aggregating to ₹45,00,00,000.

Proposed Allottees

The preferential issue will be allocated among five non-promoter investors, with the allocation ranging from 50,00,000 to 1,00,00,000 shares per allottee. The proposed investors include both corporate entities and individual investors.

Regulatory Compliance

The preferential issue will be conducted in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and provisions of the Companies Act, 2013. The issuance is subject to shareholders' approval through the proposed EGM and other regulatory approvals as required.

Previous Developments

This announcement follows the company's earlier board meeting outcome revision in December 2025, where Magnus Steel corrected valuer appointment details for a similar preferential issue. The company had appointed M/s Atharva Valuation (OPC) Private Limited as the registered valuer for the valuation process.

The outcome was signed by Managing Director Karronn Bajaj (DIN: 09375579) and submitted to BSE Limited under scrip code 517320 and ISIN INE898E01011.

Magnus Steel and Infra Limited (formerly known as Magnus Retail Ltd) has announced the withdrawal of its proposed rights issue due to insufficient subscription. The decision was made by the company's Board of Directors at a meeting held on November 22, 2025.

Rights Issue Details

Reason for Withdrawal

The company cited non-receipt of minimum subscription as required under Regulation 86(2) of SEBI (Issue of Capital Disclosure Requirements) Regulations, 2018, as the primary reason for withdrawing the rights issue.

Next Steps for Investors

Magnus Steel and Infra Limited has initiated the process to instruct banks to unblock the amounts collected from investors. Shareholders whose funds have not been unblocked are advised to contact the Registrar to the issue, Bigshare Services Private Limited, at rightsissue@bigshareonline.com .

Company Information

The Board meeting discussing this matter commenced at 12:30 P.M. and concluded at 1:00 P.M. on November 22, 2025.

This development highlights the challenges companies may face in raising capital through rights issues, particularly in meeting minimum subscription requirements set by regulatory bodies. Investors in Magnus Steel and Infra Limited should monitor further communications from the company regarding the unblocking of funds.