Bajaj Hindusthan Sugar Limited has informed the Exchange regarding Outcome of Committee Meeting held on March 28, 2026 regarding allotment of 98,89,37,706 Series A 0.01% Compulsorily Convertible Preference Shares (CCPS) of face value of Rs.1/- each issued at par on preferential basis on conversion of Loan in accordance with the Frame Work Agreement executed on March 26, 2026.
BAJAJHIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bajaj Hindusthan Sugar has allotted approximately 98.89 crore (98,89,37,706) Series A 0.01% Compulsorily Convertible Preference Shares (CCPS) at Re.1 each, aggregating to Rs.98.89 Crores, to UCO Bank. The allotment was made on a preferential basis by converting an existing loan into equity, in line with a Resolution Plan and Framework Agreement signed on March 26, 2026. The CCPS carry a token coupon of 0.01% and are compulsorily convertible, meaning they will eventually turn into ordinary equity shares. Allotment to one more lender is still pending. The move is part of the company's debt restructuring effort rather than fresh fundraising.
This is debt-to-equity conversion, not fresh capital, so existing shareholders face dilution once the CCPS convert into shares. However, it reduces the company's loan burden and is a positive step toward balance sheet repair under the Resolution Plan, which may ease financial stress in the long run.