Magnum Ventures discloses share transmission to Veena Jain after Parmod Kumar Jain's demise

What Magnum Ventures announced

On 21 July 2026, Magnum Ventures Limited filed a disclosure under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The filing records the transmission of shares following the death of Mr Parmod Kumar Jain. The shares have been transferred to his wife, Mrs Veena Jain, and are classified as part of the promoter group. The company submitted the details to both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) as required by the regulator.

Transmission of shares to Veena Jain

The filing states that the transmission is a result of the demise of Mr Parmod Kumar Jain. The shares previously held by him – 5,067,750 voting‑right shares, representing 7.41% of the total voting capital – have been re‑allocated to his legal heir, Mrs Veena Jain. After the transmission, Veena Jain now holds 385,000 shares, which equates to 0.56% of the company’s total voting capital. No new shares were created; the move merely reflects a change in ownership within the existing share pool.

Promoter‑group holdings after the transmission

The disclosure lists eleven individuals and one entity that are considered persons acting in concert (PAC) with the acquirer. Their holdings are summarised below:

*Parmod Kumar Jain’s shares are shown for reference; they have been transferred to Veena Jain.

Collectively, the promoter group holds approximately 9.5% of Magnum Ventures’ total voting capital, a figure that remains unchanged after the transmission because the shares simply moved within the group.

Key facts at a glance

Why this matters for investors

The disclosure satisfies a statutory requirement that any substantial change in shareholding within a promoter group be reported to the exchanges. By filing under Regulation 29(1), Magnum Ventures ensures transparency about who controls the company’s voting power. The transmission does not dilute existing shareholders because no new equity was issued; it merely re‑allocates existing shares. However, the filing provides investors with an updated view of promoter concentration, which can be relevant for corporate governance assessments and for monitoring any future changes that might affect control dynamics.

Conclusion

Magnum Ventures has formally recorded the inheritance‑driven transmission of 385,000 shares to Veena Jain, keeping the overall promoter‑group stake at roughly 9.5% of voting capital. The filing complies with SEBI’s disclosure norms and updates the market on the current composition of the promoter group. No further regulatory approvals are required for the transmission itself, but any subsequent changes in shareholding will again trigger similar disclosures.