Devendra Surana, a promoter of bhagyanagar , has declared the pledge of 1,273,335 equity shares held by Bhagyanagar Copper Private Limited to Kotak Securities. The disclosure, dated April 10, 2026, was submitted to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 31(4) read with Regulation 31(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The encumbered shares are registered in the name of Bhagyanagar Copper Private Limited as per the Register of Members maintained by the Depositories. Surana confirmed that this pledge has been further explained via a note in the Shareholding Pattern filed by Bhagyanagar India Limited for the quarter ended December 31, 2025. The declaration ensures transparency regarding the promoter group's collateral arrangements with financial institutions.

Promoter Group Shareholding Structure

The filing includes an annexure detailing the shareholding pattern of the promoter group entities and individuals. The table below outlines the fully paid-up equity shares held by various stakeholders associated with the Surana family and related entities. Note that the figures exclude the pledged shares held by Bhagyanagar Copper Private Limited.

Regulatory Compliance and Disclosure

The submission serves as a statutory requirement under SEBI’s takeover code, mandating promoters to disclose any changes in their shareholding status, including encumbrances. The Audit Committee of Bhagyanagar India Limited was also copied on the communication. The pledge does not alter the beneficial ownership but affects the voting rights and transferability of the specific block of shares until the encumbrance is released.

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.