22-Jan-2024
2 mins read
Magnum Ventures Limited is preparing to launch its right issue whose record date is January 25, 2024. This right issue will open on February 7, 2024 and closes on February 21, 2024. The issue price is decided at Rs 54 per equity share. The eligible shareholders are being offered 2 Right Equity Shares for every fully paid up 11 fully paid up Equity Shares. The issue size of the Magnum Ventures Limited Right Issue is of 9,059,433 equity shares at Rs 54 per share amounting to Rs 48.92 Crore.
About Magnum Ventures Limited
Magnum Ventures Limited formerly known as Magnum Paper Limited. It is in the business of manufacturing printing paper and Duplex Board. The company has a large infrastructure of 65000 sq. meters and a building area of Five lac sq. feet. The current manufacturing includes the production of printing and writing papers, Xerox paper, wrapping, packing paper and many more. The paper division of the company is spreaded in the area of 60,000 sq. meters and the build up area is 5,00,00 sq. feet. Magnum Ventures operates in six different locations Ghaziabad, East Delhi NCR, Sahibabad.As per the record, In September 2023, the company employed 1,488 members. It includes Executive Directors who oversee business operations, factory management, administrations, marketing and accounting functions.
Financial Performance of Magnum Ventures Limited (In Crore)
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 1,042.72 | 314.97 | 315.1 | |
| Revenue | 465.5 | 331.6 | 182.41 | |
| Profit After Tax | 48.39 | 70.86 | 5.15 | 1.34 |
| Net Worth | 600.68 | 583.94 | -51.17 | -56.73 |
| Reserves and Surplus | 541.84 | -88.77 | -94.33 | |
| Total Borrowing | 167.18 | 166.12 | 273.61 | 294.48 |
| Amt. in Crores |
Important Dates for Magnum Ventures Limited Rights Issue
| Issue Open | February 7, 2024 – February 21, 2024 |
| Security Name | Magnum Ventures Limited |
| Issue Size (Shares) | 9,059,433 |
| Issue Size (Amount) | ₹48.92 Crores |
| Issue Price | ₹54 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
| Terms of Payment | Issue Price of Rs.54/- per Rights Equity Share (including premium of Rs.44/- per Rights Equity Share) shall be payable on Application. |
| Entitlement | 2 Rights Equity Share(s) for every 11 fully paid-up Equity Shares held on Record Date |
Timetable of Magnum Ventures Limited Rights Issue
| Last Date to buy shares | 24-Jan-24 |
| Record Date | 25-Jan-24 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 7-Feb-24 |
| Renunciation of Rights Entitlements | 16-Feb-24 |
| Bid/Offer Closes On | 21-Feb-24 |
| Deemed Date of Allotment | 28-Feb-24 |
| Credit Date | 29-Feb-24 |
| Listing Date | 4-Mar-24 |
The Objectives of Magnum Ventures Limited Rights Issue
The company will utilize the funds raised through the issue in purchasing of new equipment and modification of the existing machinery installed. The funds will help in many things such as improving the quality of the newsprint paper, kraft paper, cup stock, and natural shade paper. The funds will be also used for General Corporate Purposes.
How to Apply for Magnum Ventures Limited Rights Issue?
Wait for the public issue to open for subscription, then click on this link to apply for the Magnum Ventures Limited Rights Issue with Bigul https://www.bonanzaonline.com/.
How to Check Allotment Status of Magnum Ventures Limited Rights Issue?
The registrar for Magnum Ventures Limited Rights Issue is Mas Services Limited. Click on the link to check allotment status https://www.masserv.com/opt.asp
FAQs
- What is the Magnum Ventures Limited Rights Issue?
The Rights Issue refers to the offering of new shares by Magnum Ventures Limited to its existing shareholders. The issue size is 9,059,433 shares which is amounting to Rs 48.92 crores.
- When does the Rights Issue open and close?
The Rights Issue opens for subscription on February 7, 2024 and closes on February 21, 2024.
- How can I apply for the Magnum Ventures Limited Rights Issue?
You can apply for the Rights Issue once it opens for a subscription. Just visit this link to apply with Bigul: https://www.bonanzaonline.com/.
- How can I check the allotment status of the Magnum Ventures Limited Issue?
The registrar for this right issue is Mas Services Limited. Click on the link to check allotment status https://www.masserv.com/opt.asp
- What is the objective of Magnum Ventures Limited Rights Issue?
The company will utilize the funds raised through the issue in purchasing of new equipment and modification of the existing machinery installed. The funds will help in many things such as improving the quality of the newsprint paper, kraft paper, cup stock, and natural shade paper
- What is the record date for the Magnum Ventures Limited Rights Issue?
The record date, which is the date to determine the shareholders eligible for the Rights Issue, is set for January 25, 2024.
- Where will the Magnum Ventures Limited Right Issue be listed?
The Rights Issue will be listed on the BSE as well as on NSE.
- What is the entitlement ratio for the Magnum Ventures Limited Right Issue?
The entitlement ratio is set at 2 Rights Equity Share(s) for every 11 fully paid-up Equity Shares held on Record Date.