Vardhman Textiles Limited — Board Meeting, 02-06-2025: Outcome of Board Meeting

Vardhman Textile has announced a board meeting that approved a Shareholders Agreement between its promoters and Aichi Steel Corporation (ASC) for their joint investment in Vardhman Special Steels Ltd (VSSL). ASC’s stake in VSSL has nearly doubled from 11.33% to 24.90%. The agreement sets clear boundaries on share transfers with lock-in and non-compete terms, along with tag-along and drag-along rights to protect all parties’ interests and ensure smooth operations at VSSL. This move strengthens the strategic partnership and operational governance in VSSL.