Vardhman Polytex Limited has informed the Exchange about Conversion of warrants issued on preferential basis.
VARDMNPOLY · price
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Vardhman Polytex has allotted 70 lakh equity shares to Oswal Holding Private Limited, a promoter group entity, upon conversion of 70 lakh convertible warrants. These warrants were originally issued on a preferential basis on March 27, 2025 at Rs. 12.55 per warrant. The company received Rs. 6.59 crore as the remaining 75% of the issue price for these warrants. After this allotment, the total paid-up share capital of the company has increased to Rs. 47.24 crore, comprising 47.24 crore equity shares of Re. 1 each. Notably, 3.60 crore warrants from the original preferential issue are still pending conversion and must be exercised within 18 months from the date of original allotment.
This is a routine conversion of warrants that were already partly paid for, so no fresh capital is coming in at this stage. Existing shareholders will see some dilution as new shares are issued to the promoter group, while 3.60 crore more warrants remain pending conversion which could lead to further dilution in the future.