Visagar Polytex Limited — Board Meeting, 05-03-2025: Outcome of Board Meeting

Visagar Polytex Limited has announced a board meeting outcome highlighting key resolutions. The board approved a draft Scheme of Arrangement aimed at writing off accumulated losses, reducing the paid-up capital from ₹29.27 Cr to ₹0.88 Cr by aligning the capital structure with the company's assets. Post-reduction, shares will consolidate in a manner that maintains a face value of ₹1 each. Additionally, the board proposed a preferential issue of 2.86 Cr equity shares at ₹1.05 each and 23.81 Cr convertible share warrants, subject to necessary approvals. These actions aim to strengthen the company's financial structure.