Bhagyanagar India Limited Board Approves Two-Part Preferential Issue to Raise Funds
Bhagyanagar India Limited announced on June 30, 2026, that its Board of Directors approved a plan for raising funds through the issuance of equity shares via preferential allotment. The decision covers two distinct tranches: one aimed at Qualified Institutional Buyers (QIB) and another targeted at non-QIB entities.The Board meeting determined the terms for issuing up to 106,895 fully paid-up equity shares to three Qualified Institutional Buyers. These shares are offered at a cash issue price of Rs 348.00 per share, which includes a premium of Rs 346/-. This tranche is intended to aggregate an amount up to Rs 41,99,99,460.
In the second part of the fundraising plan, the company authorized the issue of up to 2,94,539 fully paid-up equity shares to four other non-Promoter category buyers. Similar to the QIB tranche, these shares are set at an issue price of Rs 348.00 per share (including a premium of Rs 346/-), with the issuance aiming for an amount up to Rs 10,24,99,572.
The company decided that the successful completion of these matters would require necessary approval from shareholders and appointed an Extra-Ordinary General Meeting (EGM) scheduled for July 23, 2026. The EGM is planned to be conducted via video conferencing or other audio-visual means.
To oversee the shareholder approval process, Bhagyanagar India Limited engaged Kfin Technologies Limited to provide e-voting facility and appointed Mr Vikas Sirohiya, a Practicing Company Secretary, as the Scrutinizer.
The detailed structure of the proposed equity issuance is summarized below:
| Issuance Type | Investors Target | Total Shares Proposed | Face Value per Share | Issue Price per Share | Aggregate Amount (Maximum) |
|---|---|---|---|---|---|
| Qualified Institutional Buyers | 3 | Up to 106,895 | Rs. 2/- | Rs. 348.00/- | Rs 41,99,99,460/- |
| Non-QIB Entities | 4 | Up to 2,94,539 | Rs. 2/- | Rs. 348.00/- | Rs 10,24,99,572/- |
The company's Board of Directors meeting was held on Tuesday, June 30, 2026, commencing at 12:30 P.M. and concluding at 03:00 P.M.
BHAGYANGR Stock Price Movement
Today, Bhagyanagar India Limited shares edged higher to settle at ₹431, after gaining 4.68% in the post-market trading session. The rally drove the stock to reach a new 52-week high, with total traded volume recorded at 177,030 shares today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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