Description

Trading of Rights Entitlements (REs) for renunciation permitted from October 23, 2025 to November 10, 2025 for MAGNUS STEELAND INFRA LIMITED's rights issue.

Summary

BSE has permitted trading in Rights Entitlements (REs) for renunciation of MAGNUS STEELAND INFRA LIMITED starting October 23, 2025. The Rights Issue will be open from October 23, 2025 to November 14, 2025, with RE trading permitted until November 10, 2025. Rights Entitlements will be tradable in dematerialized form only on a T+1 rolling settlement basis with trade-for-trade settlement.

Key Points

  • Rights Entitlements trading commences Thursday, October 23, 2025
  • RE trading period: October 23, 2025 to November 10, 2025
  • Rights Issue period: October 23, 2025 to November 14, 2025
  • Scrip Code: 751046, Scrip ID: MAGNUS-RE
  • ISIN: INE898E20011
  • Market Lot: 1, Group: R
  • Settlement: T+1 Rolling Settlement on trade-for-trade basis
  • REs tradable in dematerialized form only
  • Un-subscribed and un-renounced REs will lapse after Issue Closing Date

Regulatory Changes

No regulatory changes introduced. This circular follows existing framework for Rights Entitlements trading as established in BSE notices dated March 05, 2020 (notice no. 20200305-21) and May 18, 2020 (notice no. 20200518-34).

Compliance Requirements

  • Trading Members must inform all clients about commencement of RE trading
  • Trading Members must clearly mention the ISIN (INE898E20011) of the RE to clients
  • Trading Members must include prominent disclaimer in contract notes/bills stating:
    • Purchase of REs only grants right to participate in Rights Issue or renounce before issue closes
    • REs should not be mistaken for ordinary shares
    • Un-subscribed/un-renounced REs will lapse and be extinguished after Issue Closing Date
  • Trading Members must refer to notices 20200305-21 and 20200518-34 for additional details

Important Dates

  • October 17, 2025: Circular issued
  • October 23, 2025: RE trading commences; Rights Issue opens
  • November 10, 2025: Last day for RE trading/renunciation
  • November 14, 2025: Rights Issue closes
  • After November 14, 2025: Un-subscribed/un-renounced REs will lapse

Impact Assessment

This circular has medium impact limited to existing shareholders and potential investors of MAGNUS STEELAND INFRA LIMITED. The Rights Entitlements mechanism allows shareholders to either subscribe to the rights issue, renounce their entitlements for value, or let them lapse. The T+1 settlement and dematerialized-only trading requirement ensures efficient settlement. Trading Members must ensure proper client communication to avoid confusion between REs and ordinary shares, and to prevent unintentional lapsing of valuable entitlements.

Impact Justification

Company-specific rights issue circular affecting only shareholders and potential investors of MAGNUS STEELAND INFRA LIMITED with standard trading procedures