Vardhman Polytex Limited has informed the Exchange regarding outcome of board meeting held on 25.03.2026 for allotment of 7500000 shares upon conversion of warrants issued on preferential basis.
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Vardhman Polytex Limited's board, at its meeting on March 25, 2026, approved the allotment of 75 lakh equity shares of Re.1 face value each at Rs.12.55 per share (including Rs.11.55 premium) upon conversion of an equal number of convertible warrants. The warrants were originally issued on March 27, 2025, on a preferential basis to Oswal Holding Private Limited, a promoter group entity, at Rs.12.55 per warrant. The allottee paid Rs.7.05 crore as the balance 75% of the issue price to exercise the conversion. After this allotment, the company's paid-up equity capital has increased to Rs.47.99 crore comprising 47.99 crore equity shares. About 2.85 crore warrants remain pending for future conversion.
This is a promoter-group led equity infusion that increases the company's paid-up share capital and brings in additional capital (Rs.7.05 crore from this tranche). Since the shares are being allotted to the promoter at a fixed price and are dilutive in nature, existing public shareholders face further equity dilution, though promoter commitment signals confidence in the business.