Description
Magnus Steel and Infra Limited extends the closing date of its Rights Issue from November 14, 2025 to November 21, 2025 to provide additional opportunity for shareholders to exercise their rights.
Summary
Magnus Steel and Infra Limited (formerly Magnus Retail Ltd, Scrip Code: 517320, ISIN: INE898E01011) has extended the closing date of its Rights Issue by 7 days. The Rights Issue Committee, in its meeting held on November 11, 2025, decided to extend the issue closure date from Friday, November 14, 2025 to Friday, November 21, 2025. This extension provides additional opportunity for eligible shareholders to exercise their rights and submit their applications.
Key Points
- Rights Issue opening date remains Thursday, October 23, 2025
- Original closing date was Friday, November 14, 2025
- New extended closing date is Friday, November 21, 2025
- Extension of 7 calendar days granted to allow more shareholders to participate
- Rights Issue Committee meeting held on Tuesday, November 11, 2025 (04:00 PM to 04:30 PM)
- No changes to Letter of Offer (LOF), Composite Application Form (CAF), and Abridged Letter of Offer (ALOF) dated October 14, 2025 except closing date
- Indicative timetable for post-issue activities will be adjusted accordingly
- Company ISIN: INE898E01011, Scrip Code: 517320, Symbol: MAGNUS
Regulatory Changes
No regulatory changes introduced. This is a procedural extension of an existing rights issue timeline as permitted under applicable securities regulations.
Compliance Requirements
- Eligible equity shareholders must submit duly filled Composite Application Forms (CAF) along with applicable payment
- Shareholders entitled to participate in the Rights Issue should note the revised closing date of November 21, 2025
- All other terms and conditions mentioned in the LOF, CAF and ALOF dated October 14, 2025 remain unchanged
- The extension was approved by the Rights Issue Committee as constituted by the Board
Important Dates
| Event | Date |
|---|---|
| Issue Opening Date | Thursday, October 23, 2025 |
| Original Issue Closing Date | Friday, November 14, 2025 |
| Extended Issue Closing Date | Friday, November 21, 2025 |
| Rights Issue Committee Meeting | Tuesday, November 11, 2025 (04:00 PM - 04:30 PM) |
| Previous Board Meetings | October 06, 2025 & October 14, 2025 |
Impact Assessment
Shareholder Impact: Positive for existing shareholders as the 7-day extension provides additional time to arrange funds and exercise their rights entitlements. This may improve the subscription rate and participation in the rights issue.
Market Impact: Minimal market impact as this is an administrative extension. The extension indicates the company’s intent to maximize shareholder participation, which could be viewed positively.
Operational Impact: Post-issue activities timeline will be delayed by approximately one week. Allotment, refunds, and listing of rights shares will occur later than originally scheduled.
Note: This is the second extension of the issue, as the closing date was previously extended from November 14, 2025 based on Board meetings held in October 2025.
Impact Justification
Extension of rights issue closing date affects existing shareholders' ability to participate in the offering. Medium impact as it provides additional time for subscription but does not materially change the terms of the issue.