Bajaj Hindusthan Sugar Limited has informed the Exchange regarding Outcome of Committee Meeting held on March 27, 2026 regarding Allotment of 2711,98,82,478 Compulsorily Convertible Preference Shares (CCPS) of Face Value of Rs.1/- each at par on conversion of loan in accordance with the Framework Agreement executed on March 26, 2026.
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On the reaction day the stock moved 4.5 pts more than Nifty Microcap 250 and 3.6 pts more than its Sugar peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bajaj Hindusthan Sugar has allotted 27,11,98,82,478 Series A 0.01% Compulsorily Convertible Preference Shares (CCPS) of Re.1 face value at par to 10 bank lenders, aggregating to Rs.2,711.99 Crores. This is being done by converting existing loans into equity-like instruments under the company's Resolution Plan, following a Framework Agreement signed on March 26, 2026. The lenders include State Bank of India, PNB, Indian Bank, Central Bank of India, Bank of Maharashtra, IDBI Bank, Canara Bank, Union Bank, Bank of Baroda, and Indian Overseas Bank. Allotment to 2 remaining lenders is still pending. The CCPS carry a token 0.01% coupon and will eventually convert into equity shares.
This is a major debt-to-equity swap that reduces the company's loan burden but significantly dilutes existing shareholders once the CCPS convert into equity. The stock may face near-term pressure due to dilution, but the balance sheet should strengthen with lower interest costs going forward.