Vardhman Polytex Limited — QIP/Rights/Pref., 18-12-2024: Rights Issue

Vardhman Polytex Ltd has announced a rights issue to raise up to ₹120 crores, with the record date to be determined later. Additionally, the board approved the issuance of up to 7,24,50,000 convertible warrants at a price of ₹12.55 per warrant, aggregating approximately ₹90 crores through a preferential issue to select investors. Each warrant is convertible into one equity share within 18 months. An Extraordinary General Meeting (EGM) will be held to seek shareholder approval for the preferential issue of warrants on 17th January 2025, with a cut-off date of 10th January 2025 for voting eligibility.