Vardhman Polytex Limited has informed the Exchange regarding Outcome of Board Meeting held on March 17, 2026 regarding issuance of Non-convertible Debentures for an amount upto Rs. 60 Crore on Private Placement basis.
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Vardhman Polytex Limited's board, at its meeting on March 17, 2026, approved the issuance of up to Rs. 60 Crore in Non-Convertible Debentures (NCDs) on a private placement basis through the EBP mode. The NCDs will be listed, senior, secured, rated, and redeemable, with up to 6,000 debentures being issued. The tenure is 5 years with maturity in March 2031, and the coupon rate is 18% per annum, paid monthly. The NCDs will be listed on BSE.
The company is raising Rs. 60 Crore through relatively high-cost debt (18% coupon), suggesting either strong growth funding needs or limited access to cheaper capital. Existing shareholders should note the increased interest burden and potential dilution of future earnings, though secured NCDs may be seen as a lower-risk capital raise compared to equity dilution.