Visagar Polytex Limited — Board Meeting, 06-02-2025: Outcome of Board Meeting

The Board of Directors of Visagar Polytex Limited has approved a substantial restructuring plan, which includes fully writing off accumulated losses by reducing the paid-up share capital from ₹29.27 crores to approximately ₹0.88 crores. This reduction entails consolidating 100 equity shares with a face value of ₹0.03 each into 3 equity shares with a face value of ₹1. Additionally, the board has proposed issuing 3 crore fully paid-up equity shares and 25 crore convertible share warrants under a preferential issue, subject to shareholder and regulatory approvals. The meeting also included the appointment of Mrs. Neelam Raj as Company Secretary and Compliance Officer.