Magnus Steel and Infra Ltd has approved a rights issue to raise Rs 39.89 crore by issuing shares at Rs 10 each. Eligible shareholders will receive 59 shares for every 5 held. The issue opens on November 12, 2026, with a record date of October 27, 2026.
Magnus Steel and Infra Ltd Rights Issue Details
Key Figures
Issue Size: Rs 39.89 crore at Rs 10 per share.
Proposed Shares: 3,98,87,540 new equity shares.
Reader Takeaway: Rights issue offers capital expansion; monitor record date October 27, 2026, to decide on subscription or renunciation.
What just happened
The Rights Issue Committee of Magnus Steel and Infra Ltd has finalized the structure for its upcoming capital raise. The company will issue 3,98,87,540 fully paid-up equity shares at a face value of Rs 10 each. Shareholders on the company's register as of October 27, 2026, are eligible to participate in the offer, which is set at an entitlement ratio of 59 shares for every 5 shares currently held.
Why this matters
The issue will significantly increase the company's total outstanding equity shares from 33,80,300 to 4,32,67,840, assuming full subscription. This influx of capital is intended to strengthen the company’s financial position. The entire Rs 10 per share issue price must be paid in full upon application.
Key Dates and Terms
- Record Date: October 27, 2026
- Issue Opening Date: November 12, 2026
- Last Date for On-Market Renunciation: November 25, 2026
- Issue Closing Date: December 1, 2026
What to track next
Eligible shareholders should watch for the credit of rights entitlements to their demat accounts. Investors must decide whether to subscribe to their full entitlement, subscribe for additional shares, or sell their rights entitlements on the market before the November 25 deadline. The board retains the authority to extend the issue period within a maximum 30-day window from the opening date.