Vardhman Polytex Limited has informed the Exchange regarding allotment of Optionally Convertible Debentures on preferential basis ''.
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Vardhman Polytex Limited has allotted 1,500 Optionally Convertible Debentures (OCDs) to Special Situation India Fund (a non-promoter investor) at Rs. 1,00,000 per debenture, raising Rs. 15 crore. The entire amount has been received upfront. These OCDs are optionally convertible into equity shares of Re. 1 face value within 18 months from the allotment date (May 18, 2026). The conversion price will be calculated based on a 'Relevant Date' which is 30 days before the OCD holder becomes entitled to apply for equity shares. This preferential issue was approved by shareholders in an Extraordinary General Meeting held on April 16, 2026, and received in-principle approvals from both BSE and NSE.
This capital raise provides the company with Rs. 15 crore of funding. Since the OCDs are optionally convertible and the investor currently holds zero equity shares, there is potential for dilution when and if conversion happens. The upfront payment indicates strong investor confidence, though the use of proceeds is not explicitly stated in the filing.