Description

Revised rights issue ratio from earlier notice - 29 equity shares for every 2 shares held at Rs.10/- per share on rights basis.

Summary

BSE has issued a corrigendum revising the rights issue terms for Magnus Steel and Infra Ltd (Scrip Code: 517320). This supersedes the earlier notice dated October 07, 2025 (Notice No. 20251007-61). The revised rights issue offers 29 equity shares of Rs.10/- each for every 2 equity shares held, payable at par on application.

Key Points

  • Company: Magnus Steel and Infra Ltd (Scrip Code: 517320)
  • Revised Rights Issue Ratio: 29 equity shares for every 2 equity shares held
  • Face Value: Rs.10/- per equity share
  • Issue Price: Rs.10/- per share (at par), payable on application
  • Record Date: October 10, 2025
  • Ex-Rights Date: October 10, 2025
  • Settlement Number: DR-733/2025-2026
  • Segment: Dematerialised Securities – Rolling Settlement Segment
  • All other contents of earlier notice dated October 07, 2025 remain unchanged

Regulatory Changes

No regulatory framework changes. This is a correction to previously announced corporate action terms.

Compliance Requirements

  • Trading members must note the revised rights issue ratio
  • Shareholders on record as of October 10, 2025 will be eligible for the rights issue
  • Payment of Rs.10/- per share must be made on application
  • Only dematerialised securities in rolling settlement segment are covered

Important Dates

  • Record Date: October 10, 2025
  • Ex-Rights Date: October 10, 2025
  • Settlement Number: DR-733/2025-2026
  • Circular Date: October 09, 2025
  • Supersedes Notice: 20251007-61 dated October 07, 2025

Impact Assessment

Shareholder Impact: High - The revised ratio of 29:2 represents a substantial rights offering that significantly differs from the original terms announced on October 07, 2025. Existing shareholders must be aware of this change to make informed investment decisions.

Market Impact: Immediate - The ex-rights date is October 10, 2025, giving minimal notice period. Shares will trade ex-rights from this date.

Dilution Impact: Significant - The 29:2 ratio indicates substantial equity dilution for non-participating shareholders, as this represents a 14.5x multiplication of holdings for participating shareholders.

Trading Impact: Shares will trade without rights entitlement from October 10, 2025, affecting price discovery and trading strategies.

Impact Justification

Significant revision to rights issue ratio affecting existing shareholders of Magnus Steel and Infra Ltd with immediate ex-rights date