Magnus Steel Board Approves ₹40 Cr Rights Issue

Magnus Steel and Infra Ltd's Board of Directors has approved a Rights Issue to raise up to ₹40 crore by issuing equity shares. The decision, made during a board meeting on July 15, 2026, is subject to regulatory approvals. The company will issue equity shares with a face value of ₹10 each to eligible shareholders on a record date to be announced later. The board also approved the draft Letter of Offer and formed a Rights Issue Committee to manage the process, including appointing intermediaries. This move aims to infuse capital and support the company's growth initiatives.