Bajaj Hindusthan Sugar completes implementation of S4A Scheme

Restructures loan aggregating Rs 3495.25 crore

Bajaj Hindusthan Sugar has completed the implementation of BHSL S4A Scheme as under -

Allotted 34,83,24,626 Optionally Convertible Debentures of FV of Rs 100 each aggregating Rs 3483.24 crore upon conversion of Part B (Unsustainable Loan) to JLF Lenders.

Sold and transferred 11,99,87,344 equity shares of Rs 1 each to JLF Lenders. Consequently, promoter's shareholding reduces to 15.43%.

Pursuant to the scheme, the total funded debt exposure of Rs 8284.59 crore was divided into two categories -
Part A (sustainable) - Rs 4789.34 crore
Part B (unsustainable) - Rs 3495.25 crore.

Out of Part B loan, a sum of Rs 3483.25 crore has been converted into optionally convertible debentures and the remaining Rs 12 crore of Part B loan has been adjusted against consideration payable to the promoters against acquisition of 10.59% of their shareholding in BHSL.

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