Shareholders of bhagyanagar have approved a special resolution to issue up to 15,01,434 equity shares on a preferential basis to Qualified Institutional Buyers and other non-promoter category investors. The resolution passed with overwhelming support, receiving 16,321,759 votes in favour and only 42 votes against, marking a decisive mandate for the capital raise.

The voting took place during the company’s first Extraordinary General Meeting (EGM) held on July 23, 2026. In compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the meeting was conducted electronically through Video Conferencing (VC) / Other Audio Visual Means (OAVM). A total of 48 members attended the meeting via VC, while electronic voting was open from July 20, 2026, to July 22, 2026, for remote e-voting.

The Board of Directors appointed Vikas Sirohiya, Partner at P S Rao & Associates, Company Secretaries, as the scrutinizer for the e-voting process. The cut-off date for determining voting entitlements was July 16, 2026. As of this date, there were 32,353 shareholders on record. The e-voting facility was provided by KFin Technologies Limited (KFintech).

Voting Breakdown

The voting results reflect strong backing from both promoter and public shareholders. Promoter and Promoter Group shareholders held 20,767,149 shares and cast 16,094,517 votes in favour, representing 100% support within their category. Public institutional shareholders held 231,511 shares and voted 178,061 in favour, also showing 100% support. Public non-institutional shareholders held 10,996,340 shares; of the 49,223 votes polled in this category, 49,181 were in favour (99.9147%) and 42 were against (0.0853%).

Devendra Surana, Managing Director of Bhagyanagar India Limited, chaired the meeting. During the proceedings, shareholders raised queries regarding future projects and the proposed utilization of funds from the preferential issue. The Chairman addressed these concerns before the final vote was cast. The scrutinizer’s report confirmed that the voting process was conducted fairly and transparently, with no invalid votes recorded.

Bhagyanagar India Ltd has disclosed the identity of natural persons who are the ultimate beneficial owners of the securities proposed to be allotted to various investors. This information was released via a corrigendum to the Extra-Ordinary General Meeting (EGM) notice dated June 30, 2026. The EGM is scheduled to be held on July 23, 2026.

The corrigendum was issued pursuant to a query raised by the National Stock Exchange (NSE) on July 9, 2026. It specifically amends Point X of the Explanatory Statement to the EGM Notice, providing details on the individuals who ultimately control the proposed allottees.

The disclosure categorizes the investors into Qualified Institutional Buyers (QIBs) and Non-QIBs. For QIBs, the document identifies Tang Kar Wai and Audrey as the ultimate beneficial owners for LC Pharos Multi Strategy Fund VCC - LC Pharos Multi Strategy Fund SF 1. Mr. Arvind Ashokkumar Kothari is named as the key decision maker and ultimate beneficial owner for Niveshaay Hedgehogs Fund, a scheme of Niveshaay Investment Trust.

In the Non-QIB category, the document lists Mr. Pawan Jain, Mr. Shashi Jain, and Mr. Daulat Jain as the individuals controlling Ashika Global Finance Private Limited. For individual investors Mr. Ajay Pancholi, Mr. Ashok Atluri, Mrs. Gulab Shrima, and Mr. Apurva Mahesh Shah, the status of ultimate beneficial ownership is stated as Not Applicable.

The company stated that save and except the aforesaid disclosures, the EGM Notice remains unchanged. A copy of the corrigendum is available on the company's website and the websites of the stock exchanges.

Ultimate Beneficial Owners of Proposed Allottees