Pursuant to Regulation 32 of the SEBI (LODR) Regulation, 2015, statement of deviation and variation for the quarter ended March 31, 2026 is enclosed.
BAJAJHIND · price
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Bajaj Hindusthan Sugar Limited filed its quarterly statement confirming that funds raised through preferential allotment have been fully utilized as intended with no deviation. The company allotted 1,09,65,82,534 equity shares (at Rs.5.12 per share) and 28,10,88,20,184 Compulsorily Convertible Preference Shares (CCPS) to 11 lenders including SBI, PNB, Indian Bank, and others on March 27-28, 2026. The total conversion amount was approximately Rs.561.45 crore in equity and Rs.2,810.88 crore in CCPS. This was done as part of a Resolution Plan under RBI Prudential Framework, converting outstanding loan portions (Yield to Maturity and Right of Recompense) into equity and preference shares. Lenders' total shareholding post-conversion is capped at 50% of paid-up capital.
This is a debt-to-equity conversion that will significantly dilute existing shareholders. The company's debt burden reduces as lenders become shareholders, which could be positive for the balance sheet long-term but may pressure the stock price in the short term due to dilution.