Vardhman Polytex Successfully Settles Outstanding Dues with Phoenix ARC
Vardhman Polytex Limited, an Oswal Group Company, has reported the full settlement and repayment of all outstanding dues owed to Phoenix ARC Private Limited. The company confirmed that this repayment was executed using the proceeds generated from Non-Convertible Debentures (NCDs) issued by Vardhman Polytex Limited.This payment resolves a previous default that was being reported to the Stock Exchanges on a quarterly basis, thereby curing and resolving the earlier default status.
The settlement triggers a write back of approximately Rs. 300 Crore pertaining to previous debt settlement liabilities.
VARDMNPOLY Stock Price Movement
On Wednesday, Vardhman Polytex Limited shares edged higher to close at ₹7.29, posting a notable 4.29% gain for the session. The stock moved amidst solid trading interest, registering a total volume of 183,619 shares.Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.