Vardhman Polytex has successfully concluded its warrant conversion process, with the promoter group, led by Oswal Holding, converting all remaining warrants. A total of 1.47 crore equity shares have been issued across mid-September 2026, increasing the company's total paid-up share capital to 50.84 crore shares. This move effectively removes the warrant-conversion overhang, signaling a consolidation of promoter holdings and finalizing the company’s capital restructuring plan.
Vardhman Polytex Concludes Full Warrant Conversion
Total shares allotted: 1,47,75,000 | Post-conversion equity capital: 50,84,19,004
Reader Takeaway: The warrant-conversion overhang is now fully eliminated, streamlining the equity base while increasing total promoter-held shares.
What just happened
Vardhman Polytex Limited has officially informed the BSE that the promoter group, spearheaded by Oswal Holding Private Limited, has completed the conversion of all outstanding warrants into equity shares. The allotment process was executed in three tranches between September 15 and September 17, 2026, totaling 14,775,000 new equity shares.
Why this matters
This filing signals the end of the company’s preferential warrant issuance cycle. With all 72,450,000 warrants now converted, the uncertainty regarding future equity dilution from this specific program has been removed. The company’s total paid-up share capital has expanded from 493,644,004 shares to 508,419,004 shares, each with a face value of Re. 1.
The conversion breakdown
The conversion took place over three consecutive days:
- September 15, 2026: 5,500,000 shares
- September 16, 2026: 5,525,000 shares
- September 17, 2026: 3,750,000 shares
What changes now
The promoter group has further consolidated its position within the company. For public shareholders, this transition marks a shift toward a more stable capital structure, as the conversion overhang that previously hung over the stock is now neutralized. Investors should monitor the impact of this increased equity base on future earnings per share (EPS) reporting, as the expanded share count will now be reflected in the financial statements.