MSMagnus Steel and Infra517320Rights issue announcement

Rights issue terms fixed: 59 shares for every 5 held, issue price Rs.10.00 per share

Magnus Steel and Infra's Rights Issue Committee has approved the terms of a rights issue of ~Rs.

By ScoutQuest · Wed 21 Oct 2026, 5:47 PM IST · 2 min read

Issue Size

~Rs. 39.89 crore

Issue Price / Shares

3,98,87,540 fully paid-up equity shares of face value Rs. 10.00/- each at Rs.10.00/-

Entitlement Ratio

59 equity shares for every 5 held, with right to renounce

Magnus Steel and Infra Ltd has fixed the terms of a rights issue that its Board had approved on Wednesday, July 15, 2026 for an amount of not exceeding Rs. 40 crore.

What the committee approved

• A Rights Issue of Fully Paid-Up Equity Shares: 3,98,87,540 shares of face value Rs. 10.00/- each.
• Issue price of Rs.10.00/- per share — that is, at face value, with no premium.
• Total amount aggregating ~Rs. 39.89 crore.
• Entitlement ratio of 59 equity shares for every 5 equity shares held on the record date, with the right to renounce.
• The entire Rs.10.00/- per share is payable on application. The table of terms shows no amount left for subsequent calls.

Dates to note

• Record date: Tuesday, October 27, 2026, fixed to decide which shareholders are entitled to the rights entitlement.
• Issue opening date: Thursday, November 12, 2026.
• Last date for on-market renunciation of rights entitlement: Wednesday, November 25, 2026.
• Issue closing date: Tuesday, December 01, 2026.
• The Board or a duly authorised Rights Issue Committee may extend the issue period, but the issue will not remain open for more than 30 days from the opening date, inclusive of the opening date. No application can be withdrawn after the closing date.

Share capital before and after

• Outstanding equity shares prior to the issue: ~33.8 lakh equity shares of Rs. 10.00/- each.
• Outstanding equity shares post the issue, assuming full subscription: ~4.33 crore equity shares of Rs. 10.00/- each.

The number of new shares being offered is several times the existing ~33.8 lakh shares. A shareholder who does not subscribe or sell the entitlement will hold a smaller proportion of the larger post-issue share capital.

How the entitlement reaches you

• Rights Entitlements will be credited in dematerialised form to the demat accounts of eligible equity shareholders, before the issue opening date, through arrangements the company has made with NSDL and CDSL.
• Fractional shares are ignored when calculating the fully paid-up equity shares to be issued.
• Renunciation through off-market transfer must be completed so that the Rights Entitlements reach the renouncee's demat account on or prior to the issue closing date.
• The detailed terms, the procedure for applying and the treatment of fractional entitlements will be set out in the Letter of Offer to be shared with BSE Limited. The committee has also approved the Letter of Offer, the Application Form and the Rights Entitlement Letter for update with BSE.

What it means for a retail holder

• Because the issue is priced at exactly Rs.10.00/-, the money raised adds to paid-up share capital without any securities premium.
• Taking part means putting in fresh money at Rs.10.00/- per share in the ratio offered; not taking part means your stake in the company reduces proportionately once the new shares are issued.
• The record date of Tuesday, October 27, 2026 is the cut-off for deciding who receives the entitlement, so shareholding on that date matters.

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