Bajaj Hindusthan Sugar Limited has successfully concluded its Extraordinary General Meeting held on March 10, 2026, with all three proposed resolutions receiving overwhelming shareholder approval. The company has disclosed the complete voting results pursuant to Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Overview and Participation

The company reported comprehensive shareholder participation in the voting process, with 786850 total shareholders registered as of the March 02, 2026 cut-off date. The meeting witnessed attendance from both promoter and public shareholders, with 13 promoter group members and 58 public shareholders present either in person or through proxy.

Resolution Results and Voting Outcomes

All three resolutions on the agenda were passed with substantial majority support. The voting process combined remote e-voting conducted between March 07-09, 2026, and poll voting at the meeting venue.

Resolution 1: Authorised Share Capital Increase

The ordinary resolution for increasing authorised share capital and altering the capital clause of the Memorandum of Association received strong support across all shareholder categories.

Resolution 2: Preferential Equity Share Issuance

The special resolution for issuing equity shares on preferential basis for conversion of loan (YTM amount on OCDs) to lenders achieved similar approval levels.

Resolution 3: Convertible Preference Shares Issuance

The third special resolution concerning Series A 0.01% Compulsorily Convertible Preference Shares (CCPS) issuance also received overwhelming support.

Scrutinizer Validation and Compliance

The voting process was overseen by appointed scrutinizers M/s. Ranjeetkumar Sharma & Associates, Company Secretaries, and Mr. Avinash Chaturvedi, Advocate. Their consolidated scrutinizer's report dated March 10, 2026, confirmed the validity of both remote e-voting and poll voting procedures.

The company has fulfilled its regulatory obligations by disclosing the voting results and making them available on its website at www.bajajhindusthan.com and the National Securities Depository Limited platform. Company Secretary & Compliance Officer Kausik Adhikari (Membership No. ACS 18556) has communicated the results to both BSE Limited (Stock Code: 500032) and National Stock Exchange of India Ltd. (Stock Code: BAJAJHIND).

Corporate Restructuring Implications

These resolutions form part of the company's broader financial restructuring strategy, involving conversion of existing loan obligations into equity instruments. The approved measures will enable the company to strengthen its capital structure through preferential allotments to lenders, supporting its ongoing operational and financial objectives. The resolutions specifically address the conversion of Yield to Maturity amount on Optionally Convertible Debentures and Right of Recompense on earlier restructuring to the lenders.

Bajaj Hindusthan Sugar Limited's Board of Directors has approved a comprehensive debt restructuring plan aimed at resolving the company's stressed assets under the Reserve Bank of India's Prudential Framework. The board meeting, held on February 12, 2026, from 11:45 A.M. to 01:20 P.M., marked a significant step in the company's financial restructuring journey.

Major Board Approvals

The Board approved several key resolutions that will reshape the company's capital structure:

Debt Restructuring Details

The restructuring plan addresses multiple components of the company's outstanding debt obligations. The existing OCDs worth Rs. 3,215.31 crores will continue as debt with significantly modified terms to provide relief to the company.

OCD Restructuring Terms

Promoter and Company Infusion

As part of the resolution plan, the company and promoters are required to infuse Rs. 1,000 crores during financial year 2025-26. The infusion strategy demonstrates the promoters' commitment to the restructuring process.

Conversion of Outstanding Amounts

The most significant aspect of the restructuring involves converting substantial outstanding amounts into equity instruments. The outstanding YTM of Rs. 2,939.97 crores and right of recompense of Rs. 485.60 crores under the 2014 restructuring agreement will be converted into equity shares and CCPS.

Conversion Structure

• Equity Shares: Up to Rs. 570.03 crores, ensuring consortium lenders' shareholding does not exceed 50% initially
• CCPS: Balance amount of Rs. 2,369.94 crores from YTM conversion
• Additional CCPS: Rs. 485.60 crores from right of recompense conversion

CCPS Terms and Conditions

Lender Consortium

The restructuring involves a consortium of 12 major Indian banks that will receive equity shares and CCPS as part of the debt conversion:

• State Bank of India
• Punjab National Bank
• Indian Bank
• Central Bank of India
• Bank of Maharashtra
• IDBI Bank Limited
• Canara Bank
• Union Bank of India
• UCO Bank
• Bank of Baroda
• Indian Overseas Bank
• Bank of India

Securities Issuance Framework

The company will issue securities through preferential allotment to the lender consortium. The equity shares worth Rs. 570.03 crores represent approximately 111,33,39,844 equity shares of face value Re. 1 each. The conversion prices for both equity and CCPS will be calculated as per SEBI regulations and RBI Framework guidelines, computed by a registered valuer.

Regulatory Compliance and Next Steps

The Board has approved the draft notice for an extraordinary general meeting to seek necessary shareholder approvals for the proposed restructuring. The company will provide detailed outcomes of subscription and allotment prices after the securities are issued to the lender consortium. This comprehensive restructuring plan represents a significant milestone in the company's efforts to resolve its stressed assets while maintaining operational continuity.