Vardhman Polytex Limited has informed the Exchange regarding Outcome of Board Meeting held on March 24, 2026 for allotment of 70,00,000 shares upon conversion of warrants issued on preferential basis.
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Vardhman Polytex's board, at its meeting on March 24, 2026, approved the allotment of 70,00,000 equity shares (face value Re. 1 each) to Oswal Holding Private Limited, an entity belonging to the Promoter Group. These shares were issued upon conversion of 70,00,000 convertible warrants at Rs. 12.55 per share (including a premium of Rs. 11.55), originally allotted on March 27, 2025 on a preferential basis. The company received Rs. 6.59 crore as the balance 75% payment towards the conversion. Following this allotment, the paid-up equity share capital has increased to Rs. 47.24 crore, comprising 47,23,94,004 equity shares. The newly issued shares will rank equally with existing shares. Notably, 3,60,25,000 warrants from the original preferential issue remain pending for conversion.
This allotment strengthens the Promoter Group's holding in the company and signals their continued commitment and confidence in the business. While there is equity dilution, it is coming from the promoter side rather than public shareholders, which is generally viewed positively. However, the remaining 3.60 crore warrants, if fully converted in the future, could lead to further dilution of non-promoter shareholders' stake.