Bajaj Hindusthan Sugar Completes ₹2,829.82 Cr Capital Restructuring

Bajaj Hindusthan Sugar Limited has completed substantial capital restructuring activities under its resolution plan, involving both preferential allotment of Compulsorily Convertible Preference Shares (CCPS) and equity shares to lenders. The Committee of Directors approved multiple allotments during meetings held on March 27 and March 28, 2026, converting outstanding loans into equity participation.

CCPS Allotment Details

The company completed two separate CCPS allotments as part of its resolution plan. The first allotment on March 27, 2026, involved 10 major banking institutions, while the second allotment on March 28, 2026, specifically covered UCO Bank.

Parameter: March 27 Allotment March 28 Allotment Security Type: Series A 0.01% CCPS Series A 0.01% CCPS Number of Shares: 27,11,98,82,478 CCPS 98,89,37,706 CCPS Face Value: Re.1/- each Re.1/- each Issue Price: Re.1/- per CCPS (at par) Re.1/- per CCPS (at par) Total Value: ₹2,711.99 crores ₹98.89 crores Method: Conversion of loan Conversion of loan

Equity Share Allotment

The company also completed a preferential allotment of equity shares to UCO Bank. The Committee of Directors approved this allotment during their meeting held on March 28, 2026.

Parameter: Details Security Type: Equity Shares Number of Shares: 3,69,88,476 shares Face Value: Re.1/- each Issue Price: Rs.5.12 per share (including Rs.4.12 premium) Total Value: ₹18.94 crores Allottee: UCO Bank Method: Conversion of loan

Capital Structure Impact

The equity share allotment has increased the company's paid-up equity share capital from ₹2,33,69,54,000 divided into 2,33,69,54,000 equity shares to ₹2,37,39,42,476 divided into 2,37,39,42,476 equity shares of Re.1/- each.

Lender Participation

The preferential allotments involved multiple banking institutions under the approved resolution plan. The initial CCPS allotment covered 10 major banking institutions, primarily public sector banks, while subsequent allotments specifically involved UCO Bank.

Participating Banks in Initial CCPS:

State Bank of India

Punjab National Bank

Indian Bank

Central Bank of India

Bank of Maharashtra

IDBI Bank Limited

Canara Bank

Union Bank of India

Bank of Baroda

Indian Overseas Bank

Resolution Plan Progress

The combined allotments totaling ₹2,829.82 crores form critical components of the company's resolution plan, enabling the conversion of substantial debt obligations into equity and preference share capital. The company indicated that allotment to the remaining 1 lender will be completed upon finishing the loan-to-equity conversion process by the respective lending institution.

Regulatory Compliance

All allotments were conducted in accordance with Regulation 30 of SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has provided detailed disclosures as required under the preferential issue guidelines, ensuring full transparency in the capital restructuring process.

Bajaj Hindusthan Sugar Limited has successfully concluded its Extraordinary General Meeting held on March 10, 2026, with all three proposed resolutions receiving overwhelming shareholder approval. The company has disclosed the complete voting results pursuant to Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Overview and Participation

The company reported comprehensive shareholder participation in the voting process, with 786850 total shareholders registered as of the March 02, 2026 cut-off date. The meeting witnessed attendance from both promoter and public shareholders, with 13 promoter group members and 58 public shareholders present either in person or through proxy.

Parameter: Details Meeting Date: March 10, 2026 Total Shareholders on Record: 786850 Promoter Group Attendance: 13 Public Shareholders Attendance: 58 Voting Methods: Remote e-voting and Poll

Resolution Results and Voting Outcomes

All three resolutions on the agenda were passed with substantial majority support. The voting process combined remote e-voting conducted between March 07-09, 2026, and poll voting at the meeting venue.

Resolution 1: Authorised Share Capital Increase

The ordinary resolution for increasing authorised share capital and altering the capital clause of the Memorandum of Association received strong support across all shareholder categories.

Category: Votes in Favour Votes Against Approval Rate (%) Promoter and Promoter Group: 318743422 0 100.00 Public Institutions: 52788659 4310601 92.45 Public Non-Institutions: 2952591 126221 95.90 Total: 374484672 4436822 98.83

Resolution 2: Preferential Equity Share Issuance

The special resolution for issuing equity shares on preferential basis for conversion of loan (YTM amount on OCDs) to lenders achieved similar approval levels.

Category: Votes in Favour Votes Against Approval Rate (%) Promoter and Promoter Group: 318743422 0 100.00 Public Institutions: 52739322 4359938 92.36 Public Non-Institutions: 2952166 126646 95.89 Total: 374434910 4486584 98.82

Resolution 3: Convertible Preference Shares Issuance

The third special resolution concerning Series A 0.01% Compulsorily Convertible Preference Shares (CCPS) issuance also received overwhelming support.

Category: Votes in Favour Votes Against Approval Rate (%) Promoter and Promoter Group: 318743422 0 100.00 Public Institutions: 52739322 4359938 92.36 Public Non-Institutions: 2952538 126224 95.90 Total: 374435282 4486162 98.82

Scrutinizer Validation and Compliance

The voting process was overseen by appointed scrutinizers M/s. Ranjeetkumar Sharma & Associates, Company Secretaries, and Mr. Avinash Chaturvedi, Advocate. Their consolidated scrutinizer's report dated March 10, 2026, confirmed the validity of both remote e-voting and poll voting procedures.

The company has fulfilled its regulatory obligations by disclosing the voting results and making them available on its website at www.bajajhindusthan.com and the National Securities Depository Limited platform. Company Secretary & Compliance Officer Kausik Adhikari (Membership No. ACS 18556) has communicated the results to both BSE Limited (Stock Code: 500032) and National Stock Exchange of India Ltd. (Stock Code: BAJAJHIND).

Corporate Restructuring Implications

These resolutions form part of the company's broader financial restructuring strategy, involving conversion of existing loan obligations into equity instruments. The approved measures will enable the company to strengthen its capital structure through preferential allotments to lenders, supporting its ongoing operational and financial objectives. The resolutions specifically address the conversion of Yield to Maturity amount on Optionally Convertible Debentures and Right of Recompense on earlier restructuring to the lenders.

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