Investment19 Mar 2026, 07:24 pm
Vardhman Polytex Ltd. Approves Fundraising Through Debentures and Land Sale
AI Summary
Vardhman Polytex Ltd. held a board meeting on March 19, 2026, where they approved several key decisions. The company plans to raise funds by issuing INR denominated NCDs and OCDs, amounting to INR 35,00,00,000 and INR 25,00,00,000 respectively. They also approved the alteration of the Articles of Association and decided to hold an Extraordinary General Meeting to obtain shareholder approval. Additionally, the board approved the sale, transfer, or disposal of land at the Ludhiana unit, subject to shareholder approval through a postal ballot. This initiative aims to augment funds for repaying outstanding liabilities and supporting future growth.
Key Highlights
- Fundraising through INR denominated NCDs and OCDs
- Alteration of the Articles of Association
- Planning to hold an Extraordinary General Meeting
- Approval for sale, transfer, or disposal of land at Ludhiana unit
- Initiative to augment funds for repaying liabilities and future growth