Bajaj Hindusthan Sugar Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on March 10, 2026
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Bajaj Hindusthan Sugar Limited held its Extraordinary General Meeting (EGM) on March 10, 2026, at its registered office in Golagokarannath, Uttar Pradesh, from 11:00 AM to 12:15 PM. Chairman Kushagra Bajaj could not attend, so Managing Director Ajay Kumar Sharma chaired the meeting. Three resolutions were put to members for approval: (1) an ordinary resolution to increase the authorised share capital and amend the Memorandum of Association, and (2-3) two special resolutions to issue equity shares and Series A 0.01% Compulsorily Convertible Preference Shares (CCPS) on a preferential basis to lenders. These share issuances are tied to the conversion of loans linked to Yield to Maturity amounts on Optionally Convertible Debentures (OCDs) and a Right of Recompense from earlier debt restructuring. E-voting was open from March 7 to March 9, 2026, with NSDL as the e-voting agency and Ranjeetkumar Sharma & Associates as the scrutinizer. The final voting results will be announced separately.
The preferential allotment of equity and CCPS to lenders will dilute existing shareholders' stakes, but is part of an ongoing debt-restructuring effort that may ease the company's debt burden. Investors should watch for the e-voting results and the dilution percentage once the share issuance details are finalised.