BSE grants in-principle approval for preferential issue of 66,00,000 convertible warrants
BSE grants in-principle approval for 66,00,000 warrants convertible into 66,00,000 equity shares of Rs. 10/- each at not less than Rs. 44/- each to promoters and non-promoters on a preferential basis.
By ScoutQuest · · 2 min read
- Warrants to be issued
- 66,00,000 warrants
- Equity shares on conversion
- 66,00,000 equity shares of Rs. 10/- each
- Issue price
- not less than Rs. 44/- each
What the company disclosed
Chandra Bhagat Pharma Ltd informed the stock exchange that BSE has granted its in-principle approval for a preferential issue. The company had applied for approval for the issue of 66,00,000 warrants convertible into 66,00,000 equity shares of Rs. 10/- each at a price not less than Rs. 44/- each to promoters and non-promoters on a preferential basis.
The key numbers
- Warrants to be issued: 66,00,000
- Equity shares on conversion: 66,00,000
- Face value per share: Rs. 10/-
- Issue price: not less than Rs. 44/- each
- Allottees: promoters and non-promoters
What "in-principle approval" means
This is the exchange's go-ahead for the proposed preferential issue. BSE has stated that this should not be construed as its approval for listing of the securities, and that the company must separately comply with the requirements for listing. The exchange has also said the company must make a listing application within twenty days from the date of allotment, along with the documents specified by the stock exchange.
Conditions the exchange has set
- The company is advised to strengthen internal controls to monitor trades executed by the proposed allottees in the scrip before allotment.
- The company is advised to obtain an undertaking from the allottee(s) confirming they will not do intra-day trading in the scrip or any sale in the scrip till the allotment date.
- Non-compliance observed by the exchanges after the undertaking and verification by the company may impact the listing of such shares.
- BSE reserves the right to withdraw the in-principle approval at any stage if the information submitted to it is found incomplete, incorrect, misleading or false, or if it contravenes the rules, bye-laws and regulations of the exchange.
How to read this
The in-principle approval moves the proposed preferential issue one step forward. Warrants are a right that can convert into shares later; when they convert, new equity shares are issued, which increases the total number of shares. The issue price is stated as not less than Rs. 44/- each, against a face value of Rs. 10/- each. The actual issuance and allotment of securities come later, and the company has been told to follow the applicable laws and the listing agreement for that process.
Also from Chandra Bhagat Pharma
Board approves preferential allotment of 66 lakh convertible warrants at Rs. 44/- each
22 Oct 2026
Certificate says corporate governance provisions do not apply for quarter ended 30 September 2026
21 Oct 2026
Company Secretary & Compliance Officer Rajni Dawani resigns with effect from 30 September 2026
30 Sep 2026
More numbers
- Convertible warrants under in-principle approval66,00,000
- Equity shares on conversion66,00,000
- Face value per equity shareRs. 10/-
- Issue price per share (not less than)Rs. 44/-
- Listing application window from allotmenttwenty days
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