News Corporate Actions Magnus Steel and Infra Limited Issues Corrigendum to EGM Notice for February 10, 2026 MeetingMagnus Steel and Infra Limited Issues Corrigendum to EGM Notice for February 10, 2026 Meeting
Magnus Steel and Infra Limited issued a corrigendum on February 03, 2026, to its EGM notice for the meeting scheduled on February 10, 2026. The correction addresses an error in the post-issue shareholding percentage of Ms. Arti Anjaria, changing it from 11.11% to 10.33%. The EGM seeks approval for a preferential issue of 4,50,00,000 equity shares to five non-promoter entities. BSE Limited had requested this clarification on January 28, 2026, following the company's application for in-principle approval of the proposed preferential issue.
*this image is generated using AI for illustrative purposes only.
Magnus Steel and Infra Limited has issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice, addressing a correction in shareholding calculations for its upcoming preferential issue. The corrigendum, dated February 03, 2026, pertains to the EGM scheduled for February 10, 2026, originally notified on January 15, 2026.
Correction Details
The company identified an inadvertent error in the explanatory statement regarding the post-issue shareholding percentage of proposed allottee Ms. Arti Anjaria. The correction involves adjusting her percentage from the previously stated 11.11% to the accurate figure of 10.33%.
| Parameter | Original Notice | Corrected Figure |
|---|---|---|
| Ms. Arti Anjaria's Post-Issue Shareholding | 11.11% | 10.33% |
| Shares to be Allotted | 50,00,000 | 50,00,000 |
| Current Status | Non-Promoter | Non-Promoter |
Regulatory Background
BSE Limited, through their communication dated January 28, 2026, requested the company to provide clarification regarding the proposed preferential issue. This request came after Magnus Steel had filed an application for obtaining in-principle approval from BSE for the preferential issue, as required under Regulation 28(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Preferential Issue Structure
The EGM seeks shareholder approval for issuing equity shares to five non-promoter entities through preferential allotment:
| Proposed Allottee | Shares to be Issued | Post-Issue Holding (%) | Ultimate Beneficial Owner |
|---|---|---|---|
| Nautilus Private Capital Ltd | 1,00,00,000 | 20.67% | Mr. Veeraj Toofany |
| MGO Conviction Incorporated Sub Fund | 1,00,00,000 | 20.67% | Mrs. Soufia Maariyah, Mrs. Yashna Devi Seebaluck, Mr. Mithilesh Soobarah |
| AI Foodstuff LLC | 1,00,00,000 | 20.67% | MD Monirul |
| Mr. Manoj Sawant | 1,00,00,000 | 20.67% | NA |
| Ms. Arti Anjaria | 50,00,000 | 10.33% | NA |
| Total | 4,50,00,000 |
Meeting and Documentation Details
The EGM notice was originally dispatched to shareholders on January 19, 2026, with the corrigendum sent on February 03, 2026. The meeting is scheduled for Tuesday, February 10, 2026, at 03:00 p.m. through video conferencing/other audio-visual means (VC/OAVM).
The corrigendum forms an integral part of the original EGM notice and must be read in conjunction with it. All other contents of the notice remain unchanged except for the specific correction mentioned. Both documents are available on the company's website at www.magnussteelinfra.in and BSE's website at www.bseindia.com .
Corporate Compliance
The preferential issue requires approval through a special resolution as per the Companies Act, 2013, and relevant SEBI (ICDR) Regulations, 2018. The company has confirmed that none of its Directors, Key Managerial Personnel, or their relatives have any financial or other interest in this resolution. The issue will be within the company's authorized share capital limits.
Historical Stock Returns for Magnus Steel & Infra
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.98% | -2.10% | +19.48% | +761.48% | +895.06% | +2,489.47% |
18
