Chandra Bhagat Pharma shareholders approved the issuance of up to 66,00,000 convertible warrants and an increase in authorized share capital during its 23rd Annual General Meeting held on September 1, 2026.

The meeting, chaired by Managing Director Hemant Chandravadan Bhagat, took place at the company’s office in Matunga (East), Mumbai. The agenda included ordinary business items such as the adoption of annual accounts for the year ended March 31, 2026, and the re-appointment of director Pranav Hemant Bhagat.

Key Resolutions

The special business resolutions focused on capital structure adjustments:

• Increase in the authorized share capital of the company.
• Issuance of up to 66,00,000 convertible warrants on a preferential basis to promoters and non-promoters for consideration in cash.

Audit and Compliance

The statutory auditors issued an unqualified report for FY26, with no qualifications, observations, or comments noted in their audit report for the year ended March 31, 2026. The Chairman confirmed that the requisite quorum was present to validate the proceedings.

As the company is listed on the BSE SME Platform, it is exempt from e-voting requirements under the MCA Notification dated March 19, 2015. Voting was conducted via polling papers for members present. The cut-off date for voting eligibility was August 25, 2026.

What the Numbers Show

The approval of convertible warrants signals a strategic move to raise capital while offering equity conversion options to investors. This mechanism allows the company to secure funding without immediate dilution of existing equity stakes, pending exercise of the warrants by promoters and non-promoters.

Chandra Bhagat Pharma issued a corrigendum to its Annual General Meeting (AGM) notice on August 20, 2026, to provide the specific web link for a regulatory compliance certificate. The update pertains to the proposed preferential allotment of 66,00,000 convertible warrants by the company.

The Board of Directors had previously dispatched the AGM notice on August 6, 2026. The meeting is scheduled to be held on Tuesday, September 1, 2026, at 4:00 pm at the company's registered office in Mumbai. Item No. 4 of the Explanatory Statement details the proposal for the preferential issue of the warrants.

Regulatory Compliance Update

The Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015, require companies to file applications with stock exchanges for in-principle approval of such issuances. BSE Limited requested Chandra Bhagat Pharma to provide the exact web link to the compliance certificate issued by M/s. Dilip Swarnkar & Associates.

The certificate confirms that the preferential allotment adheres to the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company has now specified that this document is accessible via its website under sub-item No. 19 of Item No. 4 in the Explanatory Statement.

Meeting Logistics

All other contents and items of the AGM Notice, along with the Explanatory Statement, remain unchanged except as modified by this corrigendum. The corrigendum forms an integral part of the original notice and must be read in conjunction with it.

Key details for shareholders include:

• Meeting Date: September 1, 2026
• Time: 4:00 pm
• Venue: Registered Office, Mumbai
• Scrutinizer: M/s. Amit Dharmani & Associates

The company communicated the corrigendum to shareholders via email through MUFG Intime India Private Limited. The document is also available on the websites of BSE Limited and Chandra Bhagat Pharma.