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Vardhman Polytex Ltd ( (IN:VARDMNPOLY) ) just unveiled an update.
Vardhman Polytex Ltd has approved the allotment of 7.5 million equity shares of Re. 1 each at a price of Rs. 12.55 per share on conversion of an equal number of warrants issued on a preferential basis to a promoter group entity. Following the receipt of 75% of the issue price from the allottees and completion of this conversion, the company’s paid-up equity share capital has increased to Rs. 47.99 crore, with the newly issued shares ranking pari passu with existing equity shares, thereby strengthening its equity base and promoter holding structure.
More about Vardhman Polytex Ltd
Vardhman Polytex Ltd is part of the Oswal Group and operates in the textile sector, with its registered and corporate office in Ludhiana, Punjab. The company is listed on both the National Stock Exchange of India and BSE under the scrip code VARDMNPOLY and 514175, respectively, and has a paid-up equity share capital denominated in Re. 1 shares.
Average Trading Volume: 108,419
Technical Sentiment Signal: Hold
Current Market Cap: 3.29B INR
For an in-depth examination of VARDMNPOLY stock, go to TipRanks’ Overview page.