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

Vardhman Polytex Ltd has approved a rights issue to raise up to Rs. 120 crore, targeting eligible equity shareholders with the record date to be announced later. Additionally, the company will issue up to 74,50,000 convertible warrants on a preferential basis, priced at Rs. 12.55 each, aggregating approximately Rs. 90.92 crore. An Extraordinary General Meeting is scheduled for January 17, 2025, to seek shareholder approval for these actions. The upfront payment for the warrants will be 25% of the issue price, with the remaining amount due upon conversion.