Pine Oak Global Fund has acquired 1,00,00,000 shares of Vardhman Polytex Limited through open market purchase, as disclosed in a regulatory filing dated February 17, 2026. The acquisition represents a significant increase in the fund's stake in the textile company, which is listed on both NSE and BSE.

Acquisition Details

The transaction was completed on February 16, 2026, with Pine Oak Global Fund purchasing 1,00,00,000 equity shares through open market operations. The fund has clarified that it does not belong to the promoter or promoter group of Vardhman Polytex Limited.

Share Capital Structure

Vardhman Polytex Limited's equity share capital remains unchanged at 45,88,94,004 equity shares of Re. 1 each, aggregating to a share capital of Rs. 45,88,94,004. However, the total diluted share capital stands at 50,84,19,004 equity shares, assuming full conversion of the balance 4,95,25,000 convertible warrants issued on preferential basis.

Regulatory Compliance

The disclosure was made under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Pine Oak Global Fund submitted the requisite documentation to both the National Stock Exchange of India Limited and BSE Limited, where Vardhman Polytex shares are listed under scrip codes VARDMNPOLY and 514175 respectively.

Fund Background

Pine Oak Global Fund, based in Mauritius, operates under the tagline "Unleashing the Wealth in Wisdom." The fund's acquisition represents a strategic investment in Vardhman Polytex Limited, a company in the textile sector with operations based in Ludhiana, Punjab.

The transaction details show that no voting rights were acquired otherwise than by equity shares, and no warrants, convertible securities, or other instruments were involved in this particular acquisition. The fund also confirmed no shares were held in the nature of encumbrance such as pledge, lien, or non-disposal undertaking.

Vardhman Polytex Limited has completed the newspaper publication of its financial results for the quarter ended December 31, 2025, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received a clean independent auditor's review report for its unaudited financial results for the quarter and nine months ended December 31, 2025.

Newspaper Publication Compliance

The company published its financial results in Financial Express (English) and Desh Sewak (Punjabi) newspapers dated February 15, 2026. Company Secretary Ajay K. Ratra digitally signed and submitted the newspaper publication notice to both NSE and BSE on February 16, 2026, ensuring full regulatory compliance.

Auditor's Review Report

The independent review was conducted by Navneet Sehgal & Co., Chartered Accountants, based in Ludhiana, in accordance with Standard on Review Engagements (SRE) 2410. The review was conducted by Partner Navneet Sehgal (Membership No. 085767) and digitally signed by Partner Ajay Kumar Ratra on February 14, 2026.

Compliance and Standards

The financial statement was prepared in accordance with Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34) prescribed under Section 133 of the Companies Act, 2013. The results comply with other accounting principles generally accepted in India and adhere to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor's Conclusion

The auditors concluded that nothing came to their attention that would cause them to believe the accompanying financial statement contains any material misstatement. The review confirmed that the company has disclosed all information required under Regulation 33 of the SEBI Listing Regulations in the appropriate manner. The auditors emphasized that a review is substantially less in scope than a full audit and does not provide the same level of assurance as an audit opinion.