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Bajaj Hindusthan rises on getting nod for debt restructuring

29 Dec 2014 Evaluate

Bajaj Hindusthan is currently trading at Rs. 18.95, up by 0.25 points or 1.34 % from its previous closing of Rs. 18.70 on the BSE.

The scrip opened at Rs. 18.80 and has touched a high and low of Rs. 19.20 and Rs. 18.70 respectively. So far 252555 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 32.60 on 10-Jun-2014 and a 52 week low of Rs. 11.98 on 31-Jan-2014.

Last one week high and low of the scrip stood at Rs. 19.15 and Rs. 18.30 respectively. The current market cap of the company is Rs. 1208.47 crore.

The promoters holding in the company stood at 46.13 % while Institutions and Non-Institutions held 16.68 % and 37.13 % respectively.

Bajaj Hindusthan has received an approval for the debt restructuring package worth around Rs 6,500 crore under Joint Lenders Forum (JLF).  The board of the company, at their meeting held on December 25, 2014, has accepted the final report on debt restructuring package in respect of outstanding debts of the company, which include working capital loans of Rs 3,667.75 crore and term loan of Rs 2,864.79 crore. The scheme envisaged extended repayment tenure of 10 years, including moratorium period of two years from cutoff date (July 31, 2014) and funding of interest for a period of two years from the cut-off date.

As per the restructuring package, 70 per cent of funding for interest on restructured loan is proposed to be converted into equity shares at a price determined by SEBI guidelines and balance 30 per cent will be repaid over the next five years from September this year. The restructuring scheme also envisages providing personal/corporate guarantees, providing collateral security and infusion of Rs 200 crore in a phased manner from promoter/ promoter group.

Bajaj Hindusthan, a part of the 'Bajaj Group’, is one the largest sugar manufacturing companies in Asia and also the largest industrial alcohol manufacturers in India. It is engaged in sugar manufacturing, distillery operations and bagasse-based power generation.

Bajaj Hindusthan Sug Share Price

18.80 -0.08 (-0.42%)
17-Apr-2026 16:59 View Price Chart
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