Vardhman Polytex Limited Allots 31,25,000 Shares Following Warrant Conversion
Vardhman Polytex Limited announced the allotment of 31,25,000 equity shares on March 26, 2026, resulting from the conversion of 31,25,000 warrants. The decision followed a board meeting held on the same date.The warrants were initially issued on a preferential basis to a promoter group entity on March 27, 2025, at a price of Rs. 12.55 per warrant, convertible into one equity share of Re. 1 each. The company received an amount of Rs. 2,94,14,063, representing 75% of the issue price per warrant, triggering the conversion.
The equity shares were allotted at a price of Rs. 12.55 per share, including a premium of Rs. 11.55 per share. This conversion has increased the company's paid-up equity share capital to Rs. 48,30,19,004, comprising 48,30,19,004 fully paid-up equity shares of Re. 1 each. The newly allotted shares rank pari passu with existing shares.
The allottee is Oswal Holding Private Limited, which initially held 2,85,25,000 warrants pending conversion. Following the conversion, Oswal Holding Private Limited holds 2,54,00,000 warrants.
The warrants have a tenure of 18 months from the date of allotment.
Table: Allottee Details
| Sr. No. | Name of Allottee | Warrants Earlier Allotted | No. of Warrants Applied for Conversion | No. of Equity Shares Allotted | Amount Received (Rupees) | Warrants Pending |
|---|---|---|---|---|---|---|
| 1 | Oswal Holding Private Limited | 2,85,25,000 | 31,25,000 | 31,25,000 | Rs.2,94,14,063/- | 2,54,00,000 |
Table: Details of Preferential Issue
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Type of securities issued | Equity Shares upon conversion of Warrants |
| 2 | Type of Issuance | Preferential allotment on a private placement basis |
| 3 | Total number of securities proposed to be issued | Allotment of 31,25,000 Equity shares |
| 4 | Cancellation or termination of proposal | Not Applicable |
Additional Information
- The post-allotment paid-up capital stands at Rs. 48,30,19,004.
- The issue price of the warrant was Rs. 12.55.
- One equity share is issued per warrant.
- The board meeting commenced at 4:30 PM and concluded at 5:15 PM.
- 2,54,00,000 warrants are pending for conversion.
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