Description
Magnus Steel and Infra Limited extends the closing date of its Rights Issue from November 14, 2025 to November 21, 2025 to provide shareholders more time to exercise their rights.
Summary
Magnus Steel and Infra Limited (formerly Magnus Retail Limited) has extended the closing date of its Rights Issue by one week. The Rights Issue Committee meeting held on November 11, 2025, decided to extend the issue closure from Friday, November 14, 2025 to Friday, November 21, 2025. This extension aims to provide shareholders additional time to exercise their rights and submit applications.
Key Points
- Rights Issue opened on Thursday, October 23, 2025
- Original closing date was Friday, November 14, 2025
- New closing date is Friday, November 21, 2025 (extended by 7 days)
- Rights Issue Committee meeting held on November 11, 2025 approved the extension
- Committee meeting duration: 4:00 PM to 4:30 PM
- ISIN: INE898E01011, Scrip Code: 517320, Symbol: MAGNUS
- No changes to LOF, CAF, and ALOF dated October 14, 2025 except issue closing date
- Post-issue activity timelines adjusted due to the extension
Regulatory Changes
No regulatory changes introduced. This is a procedural extension of an existing rights issue timeline.
Compliance Requirements
- Eligible equity shareholders should note the revised closing date of November 21, 2025
- Shareholders must submit duly filled CAF (Composite Application Form) along with applicable payment by the new closing date
- The last date mentioned for CAF submission was originally November 10, 2025 (note: this appears to be an error in the circular as it predates the new closing date)
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 |
| Previous Board Meetings | October 6, 2025 & October 14, 2025 |
Impact Assessment
Market Impact: Low to Medium - The extension affects only Magnus Steel and Infra Limited shareholders and provides them additional time to participate in the rights issue. This is a shareholder-friendly move that may increase subscription rates.
Operational Impact: The extension requires adjustment of post-issue activity timelines. Shareholders now have an additional week to arrange funds and submit applications.
Company Background: Magnus Steel and Infra Limited (formerly Magnus Retail Limited) has been in operation since 1978 (Legacy Since 1978). The company is registered in Maharashtra with its office in Nashik district.
Impact Justification
Extension of rights issue closing date provides additional opportunity for shareholders to participate but has limited broader market impact. Relevant primarily to MAGNUS shareholders.