Magnum Ventures Allots ₹50 Cr NCDs to Neo Special Credit

Magnum Ventures Ltd has successfully allotted 5,000 Non-Convertible Debentures (NCDs) worth ₹50 crore on a private placement basis to Neo Special Credit Opportunities Fund. These NCDs are listed, rated, secured, and redeemable, carrying an 18% annual coupon rate payable monthly. The tenure of the NCDs is approximately 4 years and 9 months, maturing on March 31, 2031. The issuance aims to raise capital and is secured by charges on the company's assets and personal guarantees. This move is part of the company's debt-raising strategy.