You are here: Home » Companies
Business Standard

Vardhman Textiles dilutes 40% in Vardhman Yarns and Threads

The proceeds from the stake sale would be used for expansion purpose in yarn and fabric manufacturing

Komal Amit Gera  |  Chandigarh 

This is article Banner

Ludhiana-based vertically integrated textile group, Vardhman Textiles Limited, has sealed a share sale and purchase agreement ("SPA"), an amended and restated shareholders agreement, and other incidental and ancillary agreements (collectively called "Transaction Documents") envisaging sale of 2,28,02,541 equity shares held by the Company in Vardhman Yarns and Threads Limited (VYTL) aggregating to 40 per cent of the issued, subscribed and paid-up equity share capital of VYTL to American & Efird Global, LLC (A&E Global) subject to fulfillment of certain ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, September 02 2016. 13:12 IST