Magnus Retail Ltd — Updates, 01-01-1970: Company Update

Mr. Karronn Naresh Bajaj and Mr. Aditya Naresh Bajaj are pursuing an open offer to acquire up to 8,78,878 equity shares of Magnus Retail Limited, representing 26% of its voting share capital. The offer price is set at Rs. 7.00 per share. Following the closure of the offer, the Acquirers will hold approximately 73.60% of the total equity. This strategic move indicates confidence in Magnus Retail’s potential and may enhance investor sentiment, as the Acquirers increase their stake significantly, albeit the minimal acceptance rate suggests limited initial interest.