Magnum Ventures Ltd repays loan of Alchemist Assets Reconstruction Company Ltd

Magnum Ventures Ltd has announced the repayment to Existing Lenders (Alchemist Assets Reconstruction Company Limited). The Company has repaid in full the loan including interest thereon (if any) to Alchemist Assets Reconstruction Company Limited amounting Rs. 136.48 Crores out of the proceeds of NCD Issuance of Rs. 150 Crores. This repayment is made in accordance with the objects of the NCD Issue. In this matter the Company has received the No Dues Letter dated 12th March, 2024 from Alchemist Assets Reconstruction Company Limited.

As a consequence of repayment, the security, including of immovable, movables and current assets of the Company and pledge of shares and guarantees by promoters towards said loan is released. The Satisfaction of Charges will be filed to the Registrar of Companies within due time.

The company approved creation of Charge by New Lenders. The Company is under process of creation of charges for securing the NCDs which will involve the above mentioned securities to the new lenders. The Creation of Charges will be filed to the Registrar of Companies within due timings.

Shares of Magnum Ventures Limited was last trading in BSE at Rs. 54.38 as compared to the previous close of Rs. 57.24. The total number of shares traded during the day was 5293 in over 28 trades.

The stock hit an intraday high of Rs. 54.38 and intraday low of 54.38. The net turnover during the day was Rs. 287833.00.

Source : Equity Bulls

Keywords

MagnumVentures INE387I01016 LoanRepayment AlchemistAssetsReconstructionCompany