Vardhman Polytex Limited has announced that its board meeting is scheduled to take place on May 29, 2026. The primary agenda for this meeting is to consider and approve the financial results for the fourth quarter and fiscal year ending March 31, 2026.

Meeting Details

The board meeting will be conducted to review the company's performance during Q4FY26. The intimation regarding this meeting has been provided in compliance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agenda

The key focus of the upcoming board meeting will be the financial results for the period ending March 31, 2026. The board is expected to discuss the operational and financial performance of the company during the specified quarter.

Vardhman Polytex Limited has allotted 1,500 Optionally Convertible Debentures (OCDs) on a preferential basis to Special Situation India Fund, a Non-Promoter Group Entity, at a price of Rs. 1,00,000 per OCD, aggregating to Rs. 15,00,00,000 (Rupees Fifteen Crore Only). The Board of Directors approved the allotment at their meeting held on Monday, 18th May, 2026, which commenced at 05:00 PM and concluded at 05:45 PM. The issuance was made pursuant to a special resolution passed by shareholders at an Extraordinary General Meeting held on 16th April, 2026.

Regulatory Approvals and Compliance

The preferential allotment received in-principle approval from BSE Limited vide letter number LOD/PREF/MV/FIP/226/2026-27 dated May 14, 2026, and from National Stock Exchange of India Limited vide letter number NSE/LIST/54202 dated May 15, 2026. The issuance has been carried out in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI circular dated July 13, 2023. The preferential allotment was conducted on a private placement basis under the provisions of the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Key Terms of the OCD Issuance

The following table summarises the key details of the preferential OCD issuance:

Conversion and Post-Issue Shareholding

The OCDs are convertible into equity shares of the Company having a face value of Re. 1/- each within a period of 18 months from the date of allotment. The "Relevant Date" for calculating the price of the resultant equity shares upon conversion will be a date 30 days prior to the date on which the OCD holder becomes entitled to apply for the equity shares of the Company. As the conversion price is to be determined on the Relevant Date under SEBI ICDR Regulations, the post-issue equity shareholding of Special Situation India Fund cannot be ascertained at this stage.

Pre- and Post-Issue Shareholding Details

The allotment details and shareholding position of the allottee are presented below:

The Company has noted that the stock exchanges will be intimated as and when the OCDs are converted into equity shares or lapse. The disclosure has been made in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015.