Magnum Ventures Rights Issue will open for subscription from 07 February 2024. the company aims for an issue size of ₹48.92 Crores through this rights Issue.
About the company
Incorporated in 1980, Magnum Ventures Limited was formerly known as Magnum Paper Limited. Magnum Ventures is a manufacturer of Printing paper and Duplex boards. The company has a large infrastructure of 65000 square meters and a building area of five lacs square feet in the Sahibabad Industrial Area, Ghaziabad. The installed capacity is 85000 TPA. The current manufacturing operations include the production of printing and writing papers, duplex boards, Xerox paper, wrapping and packing paper, and more. The installed capacity for these products is 85,000 metric tons per year, based on a three-shift system and 330 working days per year.
In 2009, the company diversified by opening the only five-star vegetarian hotel in India. The company owns and operates a five-star deluxe hotel with 216 rooms in the Sahibabad district, bordering Delhi. The company is the owner and operator of the Country Inn and Suites by Carlson (now Radisson) Hotel located in Sahibabad. This hotel is the second-largest one under the Country Inn and Suites by Carlson brand and holds the distinction of being the first vegetarian five-star hotel in India.
As of September 30, 2023, the company employs 1,488 staff members, including Executive Directors who oversee business operations, factory management, administration, secretarial work, marketing, and accounting functions, according to their respective goals.
Objectives of the Issue
- Funding purchase of new equipment and modification of existing machinery installed in the pulp section to rewinding section manufacturing unit.
- also to improve the quality and quantity of newsprint paper, kraft paper and cup stock natural shade paper; and
- General Corporate Purposes.
Magnum Ventures Rights Issue Timetable
| Last Date to buy shares | 24 January 2024 |
| Record Date | 25 January 2024 |
| Credit of Rights Entitlements | |
| Bid/Offer Opens On | 07 February 2024 |
| Renunciation of Rights Entitlements | 16 February 2024 |
| Bid/Offer Closes On | 21 February 2024 |
| Deemed Date of Allotment | 28 February 2024 |
| Credit Date | 29 February 2024 |
| Listing Date | 04 March 2024 |
Magnum Ventures Rights Issue Details
| 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 |
Company Financials
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 1,042.72 | 314.97 | 315.10 | |
| Revenue | 465.50 | 331.60 | 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 |
Magnum Ventures Rights Issue Documents
Lead Manager(s)
–
Magnum Ventures Registrar
Mas Services Limited
Phone: (011) 2610 4142
Email: investor@masserv.com
Website: https://www.masserv.com/opt.asp
Magnum Ventures Contact Information
Magnum Ventures Limited
HNO-MN01, Hub and Oak, E-14
Lower Ground Floor, Defence Colony,
New Delhi-110024
Phone: +91-11-42420015
Email: info@magnumventures.in
Website: https://www.magnumventures.in/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
