Vardhman Textiles has purchased entire stake of Marubeni Corporation (6.67%) and Marubeni Hong Kong and South China (3.89%) in its subsidiary, VMT Spinning Company (VMT). The company earlier was holding 89.44% shares of VMT and with this purchase VMT has become its 100% subsidiary.
Vardhman Textiles, incorporated in 1973, is one of the pioneers in textile industry with operations in the segments of yarn, sewing thread, steel, and fabric.