Vardhman Polytex Limited has successfully completed the allotment of 65,00,000 equity shares following warrant conversion by promoter group entity Oswal Holding Private Limited, marking a significant milestone in the company's capital structure enhancement. The board meeting held on March 23, 2026, approved the conversion at Rs 12.55 per share, raising Rs 6,11,81,250 and increasing the company's paid-up equity share capital to Rs 46,53,94,004.

Warrant Conversion Details

The allotment represents conversion of 65,00,000 warrants from the original 7,24,50,000 convertible warrants issued on preferential basis on March 27, 2025. Oswal Holding Private Limited exercised its conversion rights by paying the balance 75% amount aggregating to Rs 6,11,81,250, completing the full issue price of Rs 12.55 per warrant.

Capital Structure Impact

Following this conversion, Vardhman Polytex's paid-up equity share capital has increased to Rs 46,53,94,004, consisting of 46,53,94,004 fully paid-up equity shares of Re 1 each. The newly allotted shares rank pari passu with existing equity shares, providing equal rights and privileges to the holder.

Outstanding Warrant Position

After the current conversion, Oswal Holding Private Limited retains 4,30,25,000 warrants pending conversion from its original allotment. These warrants carry conversion rights exercisable within 18 months from the original allotment date of March 27, 2025, providing flexibility for phased equity participation.

Regulatory Compliance Framework

The warrant conversion process adheres to SEBI (ICDR) Regulations, 2018, and SEBI (LODR) Regulations, 2015. The original warrant issue was structured with 25% upfront payment at allotment and 75% payment upon conversion exercise, ensuring compliance with preferential allotment norms for promoter group entities.

This warrant conversion demonstrates Vardhman Polytex's successful execution of its equity fundraising strategy, providing additional capital resources while maintaining promoter group participation in the company's growth trajectory.

Vardhman polytex Limited has announced the withdrawal of its credit rating by ICRA, informing stock exchanges of this development under Regulation 30 of SEBI (LODR) regulations, 2015. The rating withdrawal pertains to borrowing facilities that were availed by the company in earlier years.

Rating Withdrawal Details

The credit rating withdrawal was initiated upon the company's request and was processed based on a No Objection Certificate (NOC) issued by the existing lender. This action aligns with ICRA's established policy on withdrawal of credit ratings, ensuring proper procedural compliance.

Regulatory Compliance

The company has provided detailed disclosures as required under Regulation 30 of the Listing Regulations, read with SEBI Master Circular dated July 13, 2023. The disclosure covers specific aspects of rating changes and their implications.

Communication to Exchanges

Vardhman Polytex Limited has formally communicated this development to both the National Stock Exchange of India Limited and BSE Limited. The company emphasized that this withdrawal was processed in accordance with established regulatory frameworks and rating agency policies.

The announcement was signed by Ajay K. Ratra, Company Secretary, ensuring proper authorization and compliance with corporate governance requirements. This disclosure maintains transparency with stakeholders regarding material changes in the company's credit rating status.