Board Meeting25 Jun 2026, 08:20 pm
Magellanic Cloud to Issue Shares & Warrants, Approves Merger
AI Summary
Magellanic Cloud Limited's Board of Directors approved the issuance of 3,74,28,573 Equity Shares and 12,67,00,000 Convertible Warrants to raise additional capital. The company also approved an increase in the aggregate ceiling for NRI/OCI investment from 10% to 24%. Additionally, the board approved a loan/guarantee facility of up to ₹150 Crores for its subsidiaries and the amalgamation scheme of IVIS International Private Limited with Magellanic Cloud Limited. An Extra Ordinary General Meeting (EGM) is scheduled for July 24, 2026, to seek member approval for these proposals.
Key Highlights
- Board approved preferential issue of equity shares and warrants for capital raising.
- NRI/OCI investment ceiling to be increased to 24% subject to approvals.
- Amalgamation scheme with IVIS International Private Limited approved.
- EGM scheduled for July 24, 2026, to seek member approval.
- Loan/guarantee facility of ₹150 Cr approved for subsidiaries.
Price Impact
More from MCLOUD