The Exchange has received revised Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on May 05, 2026 for Adish Oswal & Others
VARDMNPOLY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Vardhman Polytex promoters (led by Adish Oswal and including 23 entities) have created pledges over their entire shareholding of 18,11,47,910 shares (37.50% of total capital) in favour of Catalyst Trusteeship Limited for Situation India Special Fund debentures. The filing on April 7, 2026 covers multiple promoter entities including Oswal Holding Private Limited, family members, and various investment companies. Oswal Holding also has a Non-Disposal Undertaking for 4,70,50,000 shares (already allotted from warrants) and 2,54,00,000 warrants pending conversion. The shares are pledged against Rs.392.89 crore of borrowings used for the company's capex and operations through consortium banking facilities.
All promoter shares are now fully pledged (100% of 37.50% holding), which is a significant encumbrance. This high pledge level increases risk for minority shareholders as pledged shares can be invoked if promoters default on debenture obligations.