Vardhman Polytex Share Pledge
Vardhman Polytex promoters pledged shares for debentures. No monetary value disclosed; investors should monitor promoter leverage.
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Vardhman Polytex promoters pledged shares for debentures. No monetary value disclosed; investors should monitor promoter leverage.
Vardhman Polytex Limited's promoter group created a pledge and Non-Disposal Undertaking on 10,93,12,020 shares (22.63% stake) in favor of Catalyst Trusteeship Limited. This encumbrance secures debentures worth ₹392.89 Crore issued to Special Situation India Fund. The filing clarifies previous exchange observations regarding share tallying and pending warrant conversions.
Promoters of Vardhman Polytex Limited have created a pledge and Non-Disposal Undertaking on their equity shares and 2,54,00,000 warrants. The encumbrance is created in favor of Catalyst Trusteeship Limited to secure debentures issued by the company. This disclosure follows SEBI Takeover Regulations regarding the encumbrance of promoter holdings.
Promoters of Vardhman Polytex Limited have created a pledge and Non-Disposal Undertaking on their shareholding in favour of Catalyst Trusteeship Limited. This action, disclosed under SEBI SAST Regulations, serves as security for debentures issued by the company. Total encumbered shares include existing holdings and warrants pending conversion.
Catalyst Trusteeship Limited, acting as a debenture trustee, has received an encumbrance (pledge and non-disposal undertaking) over 20,65,47,910 equity shares of Vardhman Polytex Limited. This represents 40.62% of the company's diluted share capital, created by the promoter group to secure debentures. The disclosure was made under SEBI SAST Regulation 29(1).