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Magnus Steel plans to raise up to Rs 40 crore through a rights issue

21-Oct-26 18:01 Hrs IST

Magnus Steel and Infra Limited intends to raise up to Rs 40 crore through a rights issue of 3,98,87,540 equity shares with a face value of Rs 10 each, offered at an issue price of Rs 10 per share. The rights issue will have a record date of October 27, 2026, and an issue period opening on November 12, 2026, with a ratio of 59 shares for every 5 shares held. The company's board has approved the terms, including payment details, and a Letter of Offer will be filed with the BSE and SEBI. Following the rights issue, the outstanding equity shares are expected to increase from 33,80,300 to 4,32,67,840.

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