Vardhman Polytex Rights Issue is scheduled on 12 – 27 September 2024
Vardhman Polytex is the flagship company of Oswal Group which was founded by the Late Shri Rattan Chand Oswal. The group began its corporate journey with its flagship company, Vardhman Spinning & General Mill (VSGM), in Ludhiana. Vardhman Polytex was incorporated in 1981 and manufactures yarn and garments.
It manufactures a range of Cotton Yarns (Carded, Combed, Organic, BCI), Cotton Polyester Yarns, and Value Added Yarns (Grey and Dyed) in variable counts. The company has entered into arrangements with a few vendors, from whom it purchases raw materials, processes them, and sells the finished output back to them.
The company’s manufacturing facilities are in Ludhiana, Bathinda, and Nalagarh (Himachal Pradesh) with a total installed capacity of ~1.95 lakh spindles. It also has a yarn dyeing unit in Ludhiana, with an installed capacity of ~15 tons per day. The company also has a small presence in garments, with an installed capacity of manufacturing ~7 lakh pieces per annum.
Promoters of Vardhman Polytex – Mrs. Manju Oswal, Mr. Adish Oswal, Ms. Aketa Oswal, Mrs. Rakhi Oswal, Mr. Abhinav Oswal, Ashok Kumar (HUF)
Table of Contents
Vardhman Polytex Rights Issue Details
| Vardhman Polytex Rights Issue Date | 12 – 27 September 2024 |
| Vardhman Polytex Rights Issue Price | INR 6 per share |
| Issue Size (in Shares) | 8,30,59,434 shares |
| Issue Size (in INR) | INR 49.84 crore |
| Issue Entitlement | 7 equity shares for every 23 equity shares held on record date |
| Terms of Payment | Coming soon |
| Vardhman Polytex Rights Issue Record Date | 28 August 2024 |
| Face Value | INR 1 per share |
| Listing On | NSE, BSE |
Vardhman Polytex Rights Issue Calculation
| Vardhman Polytex Rights Issue Price | INR 6 per share |
| Market Price on Rights Issue Approval | INR 10.49 per share |
| Dilution Factor (X) | 1.30 |
| Fair Value After Dilution at Prevailing Price | INR 9.44 per share |
Vardhman Polytex Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 |
| Revenue | 928.60 | 615.51 | 370.64 |
| Expenses | 933.58 | 607.98 | 415.89 |
| Operating Margin (%) | 6.70 | 10.90 | (3.49) |
| Net Income | (15.56) | 1.49 | (26.76) |
| ROCE (%) | 28 | (34) | – |
Vardhman Polytex Rights Offer Objectives
The net proceeds from the offer are proposed to be used for the following objectives
Vardhman Polytex Rights Offer Documents
- Vardhman Polytex Rights Issue Application Form
- Vardhman Polytex Letter of Offer
- Board Meeting Outcome
- Rights Issue in 2024
Vardhman Polytex Rights Issue Dates
| Rights Issue Approval Date | 22 August 2024 |
| Rights Issue Record Date | 28 August 2024 |
| Credit of Rights Entitlement | 11 September 2024 |
| Rights Issue Opening Date | 12 September 2024 |
| Last Date for Market Renunciation | 24 September 2024 |
| Rights Issue Closing Date | 27 September 2024 |
| Finalization of Basis of Allotment | 8 October 2024 |
| Rights Allotment Date | 8 October 2024 |
| Credit Date | 10 October 2024 |
| Listing Date | 11 October 2024 |
Vardhman Polytex Rights Offer Lead Manager
ARIHANT CAPITAL MARKETS LIMITED
1011, Solitaire Corporate Park, Guru Hargovindji Road,
Chakala, Andheri (E), Mumbai – 400 093
Phone: 022-42254800
Email:Â [email protected]
Website:Â www.arihantcapital.com
Vardhman Polytex Rights Offer Registrar
ALANKIT ASSIGNMENTS LIMITED
4E/21, Alankit House, Jhandewalan
Extension, New Delhi – 110055
Phone: +91-11- 42541234
E-mail:Â [email protected]
Website:Â www.alankit.com
Vardhman Polytex Issue Contact Details
VARDHMAN POLYTEX LIMITED
Vardhman Park, Chandigarh Road,
Ludhiana, Punjab, India – 141123
Phone:Â 8054444284
Email:Â [email protected]
Website: http://www.vardhmanpolytex.in
Vardhman Polytex Rights Offer FAQs
What is the Vardhman Polytex Rights Issue Price?
The issue price is INR 6 per share.
What is the Vardhman Polytex Rights Issue entitlement ratio?
The eligible shareholders are offered 7 Equity Shares for every 23 Equity Shares held on the record date.
What is the Vardhman Polytex Rights Issue Record Date?
The Record date is 28 August 2024.
How to Apply in Vardhman Polytex Rights Offer?
The best way to apply in Vardhman Polytex Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
How can we apply online by UPI (w-Rap)? We searched but it is not mentioned anywhere.