Magnus Steel gets BSE In-Principle Approval for Rights Issue

Magnus Steel and Infra Ltd. has received in-principle approval from BSE Limited for its proposed rights issue of fully paid-up equity shares. The company can now use BSE's name in its Letter of Offer, provided it includes a specific disclaimer clause as mandated by SEBI and the exchange. This approval is for the limited purpose of allowing the company to mention BSE as the stock exchange where its securities are proposed to be listed. BSE explicitly states that this approval does not warrant the correctness or completeness of the offer document, nor does it guarantee listing or financial soundness of the company.