Vardhman Polytex Limited has called an Extraordinary General Meeting (EGM) for April 16, 2026, to seek shareholder approval for a significant fundraising initiative through optionally convertible debentures worth ₹25.00 crores. Additionally, the company has received an IVR D credit rating from Infomerics Valuation and Rating Ltd for its proposed ₹95.00 crore non-convertible debentures. The company has completed the newspaper publication of the EGM notice in compliance with regulatory requirements.

Proposed Debenture Issue Details

The company plans to issue secured, unlisted, redeemable optionally convertible debentures (OCDs) on a preferential basis to Special Situation India Fund, a fund managed by EAAA India Alternatives Limited. The proposed issue structure includes:

Credit Rating Assignment for NCDs

Infomerics Valuation and Rating Ltd has assigned an IVR D credit rating to the company for its proposed issuance of ₹95.00 crore non-convertible debentures. The rating was assigned following a mandate contract.

The IVR D rating indicates that the securities are in default or are expected to be in default soon, representing the highest level of credit risk in Infomerics' rating scale.

Newspaper Publication and EGM Details

The company has published the EGM notice in Financial Express (English) and Desh Sewak (Punjabi) newspapers as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The publication was completed to ensure proper dissemination of information to shareholders and stakeholders.

Fund Utilization and Security Structure

The proceeds from the OCD issue will be utilized for modernization and de-bottlenecking of the Nalagarh plant, capital expenditure, working capital expenses, and general corporate purposes. The debentures will be secured by comprehensive collateral including:

• First ranking exclusive charge on movable assets, current assets, and intellectual property rights
• Mortgage over multiple properties in Ludhiana, New Delhi, Bathinda, and Himachal Pradesh
• Pledge over 100% equity shares held by promoters and related entities
• Personal guarantee from promoter Adish Oswal
• Corporate guarantees from 15 group companies

Conversion Terms and Meeting Procedures

The OCDs provide holders with flexible conversion options during the 6-15 month window, with pricing determined 30 days prior to conversion date as per SEBI regulations. The EGM will also consider inserting Article 131A to allow debenture trustees or holders to appoint observers to the Board of Directors.

Catalyst Trusteeship Limited is proposed as the debenture trustee for both the OCDs and NCDs. The proposed allottee, Special Situation India Fund, is classified as a non-promoter entity. Members can participate through remote e-voting facility provided by Central Depository Services Limited (CDSL) or attend the physical meeting.

Vardhman Polytex Limited has published its Postal Ballot Notice in newspapers pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company informed stock exchanges about the newspaper publication through a formal communication dated March 23, 2026.

Postal Ballot Notice Details

The company has published the Postal Ballot Notice in Financial Express (English) and Desh Sewak (Punjabi) newspapers dated March 21, 2026. The notice seeks shareholder approval on Special Resolutions as outlined in the postal ballot documentation.

Electronic Voting Process

The company has adopted an electronic-only voting process for this postal ballot. Hard copies of the Postal Ballot Notice along with Postal Ballot Forms and pre-paid business envelopes will not be sent to members, in accordance with various circulars issued by the Ministry of Corporate Affairs (MCA).

Shareholders holding shares in either physical or dematerialized form as on the cut-off date of March 13, 2026, are eligible to cast their votes electronically through the e-voting facility provided by CDSL. The remote e-voting module will be disabled after 5:00 p.m. IST on April 19, 2026.

Notice Availability and Support

The Postal Ballot Notice, along with explanatory statements pursuant to Section 102 of the Companies Act, 2013, has been sent via email to all members whose email addresses are registered with the company or Depository Participants. The notice is also available on:

• Company website: www.vpl.in
• BSE website: www.bseindia.com
• NSE website: www.nseindia.com
• CDSL website: www.evotingindia.com

For e-voting queries and support, shareholders can refer to the Frequently Asked Questions (FAQs) and e-voting manual available on CDSL's website, email helpdesk.evoting@cdslindia.com , or call 1800225533. Company Secretary Ajay K. Ratra is available for grievances related to e-voting at ajay.ratra@vpl.in .

Regulatory Compliance

The newspaper publication and electronic communication fulfill the company's obligations under SEBI regulations for postal ballot procedures. Once a member casts their vote on a resolution, they will not be allowed to change it subsequently. Only persons whose names are recorded in the register of members or beneficial owners maintained by depositories as on the cut-off date are entitled to use the remote e-voting facility.