Vardhman Polytex Limited announced that it expects to receive INR 131.625 million in funding from Sahi Trading Private Limited and other investors.

Vardhman Polytex Limited announced a private placement of 13,000,000 Convertible Equity Warrants at an issue price of INR 10.125 per warrant for the gross proceeds of INR 13,162,500 on May 18, 2023. The warrants are going to be convertible into common shares of the company at an exercise price of INR 30.375 per share. The warrants are issued on the preferential basis.

The transaction will include participation from new investor Sahi Trading Private Limited for 10,00,000 warrants, new individual investors Saajan Subhash Rathod for 10,00,000 warrants, Mangala Subhash Rathod for 10,00,000 warrants,Mavank Subhash Rathod for 10,00,000 warrants, Ruchi Gupta for 10,00,000 warrants, Anupama Kothari for 10,00,000 warrants,Raminder Pal Singh for 10,00,000 warrants and Ekjot Singh Chawla for 10,00,000 warrants. The transaction has been approved by the board of directors of the company.