Chandra Bhagat Pharma Gets In-Principle Approval for Preferential Issue

Chandra Bhagat Pharma Ltd has received in-principle approval from BSE Limited for a preferential issue of 66,00,000 convertible warrants, convertible into an equal number of equity shares. The issue price is not less than Rs. 44 per share, targeting both promoters and non-promoters. The approval is subject to strict compliance with SEBI regulations, including obtaining undertakings from allottees to prevent intra-day trading before allotment. The company must also ensure robust internal controls and complete post-issue formalities within stipulated timelines.