Vardhman Polytex's Members Approve To Issue Equity Shares (07-Dec-2011)
The members of Vardhman Polytex in the extraordinary general meeting held on 07 December 2011 have approved issue of 67,30,005 equity shares to the financial investors belonging to non-promoters at a price of Rs 110 on preferential basis.
The members have approved to increase the authorised share capital of the company from Rs 50 crore to Rs 70 crore and consequent upon to alter Clause V of the memorandum of association of the company.
The members have approved to increase the long terms borrowing powers of the company from Rs 600 crore to Rs 1000 crore.
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