Bhagyanagar India Ltd Gets In-Principle Approval for Share Issue

Bhagyanagar India Ltd has received in-principle approval from both BSE Limited and the National Stock Exchange of India Limited for the preferential issue of 15,01,434 equity shares of Rs 2/- each. The approval is under Regulation 28(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The stock exchanges have granted approval for the issue at a price not less than Rs 348/- to non-promoters. The company has been advised to ensure compliance with all relevant regulations, strengthen internal controls, and obtain undertakings from allottees regarding trading restrictions. The final listing of shares is contingent upon fulfilling all post-approval formalities and regulatory requirements.