Magnus Steel and Infra517320Rights issue announcement

Rights issue terms approved: 59 shares for every 5 held, issue price Rs. 10 per share

The Rights Issue Committee approved the terms of a rights issue of 3,98,87,540 fully paid-up equity shares of face value Rs. 10.00/- each at Rs. 10.00/- per share, totaling ~Rs.

By ScoutQuest · Wed 21 Oct 2026, 5:42 PM IST · 2 min read

4,32,67,840Outstanding equity shares Rights Issue (full subscription

Fully paid-up equity shares to be issued3,98,87,540

Outstanding equity shares to the Rights Issue33,80,300

Outstanding equity shares Rights Issue (full subscription 4,32,67,840: Fully paid-up equity shares to be issued 3,98,87,540, Outstanding equity shares to the Rights Issue 33,80,300.

Issue Price: Rs. 10.00/- per share
Entitlement Ratio: 59 shares for every 5 shares held
Issue Size: 3,98,87,540 equity shares totalling ~Rs. 39.89 crore

What was approved

The Rights Issue Committee of Magnus Steel and Infra Ltd met on Wednesday, 21st October, 2026 and approved the terms of a rights issue of fully paid-up equity shares.

Type of securities: Fully paid-up Equity Shares ("Rights Equity Shares")
Number of shares: 3,98,87,540 Fully Paid-Up Equity Shares of face value of Rs. 10.00/- each
Issue price: Rs. 10.00/- per share
Total amount: ~Rs. 39.89 crore
Entitlement ratio: 59 (Fifty Nine) Equity Shares for every 5 (Five) Equity Shares held on the record date, with the right to renounce
Payment: Rs.10.00/- per share on application; the issue price equals face value, so there is no premium

What the ratio means

A rights issue gives existing shareholders the first right to buy new shares in proportion to their existing holding. For every 5 shares an eligible shareholder holds on the record date, 59 new shares can be applied for. Fractional shares are ignored when working out the number of shares proposed to be issued.

Key dates

Record date: Tuesday, October 27, 2026
Issue opening: Thursday, November 12, 2026
Last date for market renunciation: Wednesday, November 25, 2026
Issue closing: Tuesday, December 01, 2026

The Board or a duly authorised Right Issue Committee has the right to extend the issue period, provided the issue does not remain open in excess of 30 days from the issue opening date. No withdrawal of application is permitted after the issue closing date.

Share capital before and after

Outstanding equity shares before the issue: ~33.8 lakh equity shares of Rs. 10.00/- each
Outstanding equity shares after the issue (assuming full subscription): ~4.33 crore equity shares of Rs. 10.00/- each

The company also stated that its Board meeting on Wednesday, July 15, 2026 had approved a rights issue for an amount not exceeding Rs. 40 crore.

Process points

Rights entitlements of eligible shareholders will be credited in dematerialised form to their demat accounts before the issue opening date. The company has made arrangements with NSDL and CDSL for this.
The Committee also approved the Letter of Offer, Application Form and Rights Entitlement Letter to be shared with BSE Limited, where the detailed terms and the procedure for applying will be specified.
Shareholders who renounce through off-market transfer must ensure the entitlements reach the renouncee's demat account on or prior to the issue closing date.

What a holder needs to do

Eligibility is decided by holdings on the record date of October 27, 2026. After that, an eligible shareholder can apply for the entitled shares and pay as per the terms, or renounce (transfer) the entitlement in favour of someone else within the stated timelines.

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