Board Meeting Details
The Board of Directors meeting was held on November 11, 2026, commencing at 11:00 AM IST and concluding at 12:55 PM IST.
Key Decisions Approved
1. Sale/Divestment Approval: The Board approved the sale of the company's entire 100% shareholding in Bajaj Hindusthan (Singapore) Private Limited (BH(S)PL), a wholly owned subsidiary, to Altaqat Management Consultancies Co LLC (Lead member) in Consortium with Dejavu FZ LLC.
2. Authorization: The Board authorized execution of the Share Purchase Agreement and other definitive documents, and to take all necessary steps to complete the transaction.
Transaction Details
- Total Consideration: USD 62,61,887 (approximately USD 6.26 million)
- Buyer Details: Altaqat Management Consultancies Co LLC (Lead member) in Consortium with Dejavu FZ LLC
- Buyer Address: Office no. 2202-66, Court-2202, Business Bay, Dubai, United Arab Emirates
- Expected Completion Timeline: Within 180 days
- Regulatory Compliance: Subject to necessary regulatory compliances
Subsidiary Impact
Pursuant to the sale, BH(S)PL will cease to be a subsidiary of Bajaj Hindusthan Sugar Limited. Two step-down subsidiaries in Indonesia - PT Jangkar Prima and PT Batu Bumi Persada - will also cease to be subsidiaries of the company.
Financial Details of Subsidiary (as on March 31, 2026)
- Turnover/Revenue: ₹0.01 Crores (Not applicable percentage contribution)
- Total Income: ₹0 Crores (Not applicable percentage contribution)
- Net Worth: ₹81.11 Crores (2.13% contribution to company's financials)
Transaction Characteristics
- Related Party Status: The transaction does not fall within related party transactions
- Buyer Affiliation: The buyers do not belong to the Promoter or Promoter Group of the Company
- Arm's Length: Transaction is being done at arm's length
- Scheme of Arrangement: Not applicable
- Slump Sale: Not applicable