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Vardhman Polytex to Raise Up to Rs 60 Crore via NCDs at 18% Interest
Vardhman Polytex Limited has approved the issuance of senior, secured, non-convertible debentures (NCDs) to raise up to Rs 60 crore on a private placement basis. The NCDs carry a high coupon rate of 18% per annum, with interest payable on a monthly basis. The debt instrument has a tenure of 5 years, with a final redemption date set for March 2031. This fundraise will be listed on the BSE and is subject to necessary regulatory approvals.
Key Highlights
Issuance of up to 6,000 NCDs aggregating to a total of Rs 60 crore.
High coupon rate of 18% per annum to be paid monthly.
Tenure of 5 years with redemption scheduled by March 2031.
NCDs are senior, secured, rated, and will be listed on the BSE.
The board meeting concluded on March 17, 2026, approving the private placement.
💼 Action for Investors
Investors should exercise caution as the 18% interest rate is significantly high, indicating a high cost of capital that could pressure margins. Monitor the company's debt-servicing capacity and the specific end-use of these funds.
Vardhman Polytex Reports Loan Default of ₹29.67 Crore for Quarter Ended December 2025
Vardhman Polytex Limited has disclosed a significant default in its loan repayments for the quarter ended December 31, 2025. Out of a total outstanding bank facility of ₹55.67 crore, the company has defaulted on ₹29.67 crore, representing over 53% of its bank debt. The total financial indebtedness of the entity, including both short-term and long-term debt, stands at ₹55.82 crore. This disclosure highlights ongoing liquidity challenges and credit risks associated with the company's operations.
Key Highlights
Total financial indebtedness of the company reached ₹55.82 crore as of December 31, 2025.
The company reported a default of ₹29.67 crore on revolving facilities such as cash credit from banks.
Total outstanding loans from banks and financial institutions are recorded at ₹55.67 crore.
No defaults were reported regarding unlisted debt securities like NCDs or NCRPS, which stand at zero.
The default amount constitutes a significant portion of the company's total bank-related liabilities.
💼 Action for Investors
Investors should exercise high caution due to the substantial loan default which indicates severe financial stress. It is advisable to monitor the company's debt restructuring efforts and any potential legal actions by lending banks.