Vardhman Polytex Ltd. Approves Rs 60 Crore Non-Convertible Debentures Issuance

In a recent board meeting, Vardhman Polytex Ltd. approved the issuance of up to Rs 60 Crore Non-Convertible Debentures (NCDs) on a private placement basis. The NCDs are denominated in INR, listed, senior, secured, rated, redeemable, and non-convertible. The private placement will be made through the Electronic Book Provision (EBP) mode, with up to 6000 debentures, each worth up to Rs. 10,00,000. The tenure of the instrument is 5 years, starting from the date of allotment and maturing in March 2031. The interest rate is 18% per annum, payable monthly till March 2031. The charge/security, special rights/interests/privileges attached to the instrument, and the details of redemption of NCDs will be determined at the time of issue.