Bajaj Hindusthan Sugar Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
BAJAJHIND · price
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Bajaj Hindusthan Sugar Limited filed a compliance statement for Q4 FY26 (quarter ending March 31, 2026) regarding preferential issuance of equity shares and CCPS to lenders. The company raised ₹561.45 crore through conversion of outstanding loans, issuing 1,09,65,82,534 equity shares at ₹5.12 per share and 28,10,88,20,184 Compulsorily Convertible Preference Shares to 11 lenders including SBI, PNB, Indian Bank, Central Bank, and others. The funds were utilized entirely for converting loans to equity under the Resolution Plan as per RBI Prudential Framework. No deviation or variation in use of funds was reported, with the entire amount deployed for the stated purpose.
This represents a major debt-to-equity conversion under the Resolution Plan, substantially reducing the company's debt burden. Existing shareholders will face significant dilution as lenders become shareholders. The stock may see neutral-to-negative reaction due to large share issuance despite the positive balance sheet impact.