Vardhman Polytex Limited has made a partial repayment of ₹1,00,00,000 (One Crore Rupees) towards the principal amount of its secured, unlisted, redeemable, and optionally convertible debentures (OCDs) held by Special Situation India Fund. The payment was made on September 18, 2026.
The repayment was funded from the advance amount received against the sale consideration of the Company's land property situated at Village Mundian Khurd, Focal Point, Ludhiana, Punjab. The entire sale consideration for this property has not yet been received by the Company.
This partial repayment is being made pursuant to:
- Provisions relating to mandatory redemption of OCDs from proceeds received from monetization of the Company's mortgaged properties as contained in paragraph 2.3(c) of Schedule 1 of the OCD Subscription cum Trust Deed
- Specific instructions from the Debenture Holder
The repayment mechanism involves a pro-rata reduction in the face value/principal amount of each of the 1,500 outstanding OCDs:
| Particulars | Before Part Redemption | After Part Redemption |
| Number of OCDs | 1,500 | 1,500 |
| Face value/principal per OCD | ₹90,000 | ₹83,333.33 |
| Aggregate principal amount | ₹13,50,00,000 | ₹12,50,00,000 |
Following this repayment, the number of OCDs remains unchanged at 1,500, while the face value of each OCD has been reduced from ₹90,000 to ₹83,333.33, resulting in an aggregate reduction of ₹1,00,00,000 in outstanding principal.
The Company is coordinating with the Debenture Trustee, Debenture Holder, and RTA to complete the requisite corporate, depository, and other applicable formalities.
The balance principal amount of the OCDs after this repayment stands at ₹12,50,00,000, together with interest and other amounts payable as per the terms of the OCD Subscription cum Trust Deed and other Transaction Documents.