Magnum Ventures Promoter Extends Share Pledge for NCDs

Magnum Ventures Limited announced that Mr. Parv Jain, a member of the Promoter Group, has extended the pledge of 83,24,255 equity shares. This extension is part of the security terms for 18% Listed, Secured, Redeemable, Non-Convertible Debentures (NCDs). The purpose is to secure an additional INR 50 Crore, complementing the existing INR 230 Crore NCDs. The agreement involves Mr. Parv Jain as the Pledgor, Catalyst Trusteeship Limited as the Debenture Trustee, and Magnum Ventures Limited as the Issuer Company. The transaction is not considered a related party transaction and is not done at 'arm's length'.