Vardhman Polytex gets nod to raise upto Rs 300 crore

Vardhman Polytex has received an approval to raise long terms funds for an amount not exceeding Rs 300 crore by way of any mode as ADR/ GDR/ FCCB/ QIP. The board at its meeting held on October 25, 2011 has approved for the same.

Further, it has also received an approval to increase the authorized share capital of the company from Rs 50 crore to Rs 70 crore.

Vardhman Polytex is engaged in the manufacture of yarn. It is also engaged in cotton spinning and line manufacturing, staple fiber yarn machine combing and re-combing of all types of fibers. It produces various categories of yarns like cotton, polyester cotton blended, synthetic, acrylic and dyed yarns.