Bhagyanagar India Limited has informed the Exchange that SEBI had vide its Order dated June 27, 2011 granted exemption to the promoters of the Company under regulation 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, for increase in their Shareholding from 64.08% to 73.70% incidental to proposed Buyback Offer for which the Company received members approval through postal ballot on March 10, 2011.