Magson Retail And Distribution Limited — Important, 05-02-2025: Updates

Magson Retail and Distribution Limited has approved the raising of up to INR 98.84 crore through the issuance of 1.06 crore Convertible Equity Warrants at a price of INR 93.25 each. This preferential issue targets both promoters and non-promoters, allowing each warrant to be converted into one equity share of INR 10 face value within 18 months of allotment. The company will convene an Extraordinary General Meeting on March 6, 2025, to obtain shareholder approval for this capital raise.

The board noted the valuation report for determining the minimum floor price for the warrants and designated February 4, 2025, as the relevant date for the issuance. Additionally, the firm appointed CS Kunal Sharma as the scrutinizer for the e-voting process at the upcoming EGM. This capital-raising move can enhance liquidity and support future growth, indicating a potentially positive outlook for investors.