Description

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

Summary

BSE has permitted trading in Rights Entitlements (REs) for renunciation of MAGNUS STEELAND INFRA LIMITED. The trading period runs from October 23, 2025 to November 10, 2025, while the Rights Issue itself is open from October 23, 2025 to November 14, 2025. REs will be settled on T+1 rolling settlement basis with trade-for-trade settlement and are tradable only in dematerialized form.

Key Points

  • Rights Entitlements trading permitted for MAGNUS STEELAND INFRA LIMITED
  • Scrip Code: 751046, Scrip ID: MAGNUS-RE, ISIN: INE898E20011
  • Market Lot: 1, Group: R
  • Trading on T+1 rolling settlement basis with trade-for-trade settlement
  • REs tradable only in dematerialized form
  • Trading members must include disclaimer in contract notes informing clients about nature of REs
  • Unsubscribed and unrenounced 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 previous notices (20200305-21 dated March 05, 2020 and 20200518-34 dated May 18, 2020).

Compliance Requirements

  • Trading members must inform all clients about commencement of trading in REs with correct ISIN
  • Trading members must clarify that REs should not be mistaken for ordinary shares
  • Contract notes/bills containing REs purchases must prominently include disclaimer explaining:
    • Purchase of REs only grants right to participate in ongoing Rights Issue with requisite application money
    • REs can be renounced before issue closes
    • REs neither subscribed nor renounced will lapse and be extinguished after issue closing date
  • Trading members must refer to earlier notices (20200305-21 and 20200518-34) for complete details

Important Dates

  • Rights Entitlements Trading Period: October 23, 2025 to November 10, 2025
  • Rights Issue Open Period: October 23, 2025 to November 14, 2025
  • Issue Closing Date: November 14, 2025 (after which unsubscribed/unrenounced REs will lapse)

Impact Assessment

Market Impact: Limited to shareholders and potential investors of MAGNUS STEELAND INFRA LIMITED. The six-day window between REs trading closure (November 10) and issue closure (November 14) allows final subscription decisions.

Operational Impact: Trading members must ensure proper client communication, correct ISIN usage (INE898E20011), and appropriate disclaimers in contract notes. The T+1 settlement and trade-for-trade basis requires adequate operational preparedness.

Investor Impact: Existing shareholders can trade their rights entitlements or subscribe to the rights issue. Investors purchasing REs must understand they acquire participation rights, not equity shares, and must act before November 14, 2025 to avoid lapsing.

Impact Justification

Standard rights entitlements trading notification for single company affecting only shareholders and potential investors in MAGNUS STEELAND INFRA LIMITED