Bhagyanagar India Limited has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited for a preferential issue of equity shares under Regulation 28(1) of SEBI (LODR) Regulations, 2015.

Key Details of the Preferential Issue

  • Number of shares: 15,01,434 equity shares
  • Face value: ₹2 per share
  • Issue price: Not less than ₹348 per share
  • Allottee category: Non-promoters
  • Total issue size: Approximately ₹52.25 crore (based on minimum price of ₹348 per share)

Regulatory Approvals and References

  • BSE approval reference: LOD/PREF/MV/FIP/612/2026-27 dated August 04, 2026
  • NSE approval reference: NSE/LIST/56089 dated August 04, 2026
  • Primary regulation: SEBI (LODR) Regulations, 2015 Regulation 28(1)
  • Additional regulations: SEBI (ICDR) Regulations, 2018 Chapter V

Conditions and Compliance Requirements

The approval is subject to strict compliance with:

  • Companies Act, 2013
  • Securities Contracts (Regulation) Act, 1956
  • SEBI Act, 1992
  • Depositories Act, 1996
  • SEBI ICDR Regulations, 2018
  • SEBI LODR Regulations, 2015
  • All applicable Rules, Regulations, and Guidelines

Specific Compliance Instructions

1. The company must strengthen internal controls to monitor trades executed by proposed allottees in the company's scrip before allotment

2. Must obtain undertakings from allottees confirming they will not:

  • Conduct intra-day trading in the company's scrip
  • Sell any shares of the company until the allotment date

3. The responsibility for verification and compliance rests solely with the issuer company

4. Any non-compliance observed post-undertaking may impact the listing of such shares

Post-Approval Requirements

  • Must obtain all statutory approvals from SEBI, RBI, MCA, etc.
  • Listing application must be filed within twenty days from the date of allotment as per SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023
  • Must pay applicable fees and submit required documents
  • Non-compliance with listing application timeline will attract fines as specified in the SEBI circular

Reservations and Limitations

The in-principle approval:

  • Does not constitute final listing approval
  • May be withdrawn if information submitted is found incomplete, incorrect, misleading, or false
  • Does not constitute approval under any other Act/Regulation/rule/bye-laws
  • The company must separately obtain approvals from other departments if required

Signatories and Authorities

  • Company representative: Devendra Surana, Managing Director (DIN: 00077296)
  • BSE officials: Janardhan Wagle (Deputy Vice President), Mayuri Visaria (Deputy Manager)
  • NSE official: Dipti Chinchkhede (Senior Manager)