Vardhman seeks shareholders' nod to raise up to Rs 500 cr

Vardhman Textiles has sought shareholders' approval to raise up to Rs 500 crore through non convertible debentures (NCDs) or external commercial borrowings (ECB).

In a postal ballot notice to shareholders, Vardhman Textiles has sought the consent of the shareholders for issuing "in one or more tranches, secured or unsecured redeemable non-convertible debentures/bonds on private placement basis or raise External Commercial Borrowings (ECB) for an amount not exceeding Rs 500 crore."

Shares of Vardhman Textiles were trading 0.64 per cent higher at Rs 1106.75 on the BSE.