Visagar Polytex Share Price

In 1983, Visagar Polytex Ltd. became a legally recognized company. The firm is engaged in the retail selling, wholesale sale, trade, and production of textiles and textile-related items. Through its Retail Chain and wholesale channels, the company, which specializes in producing ethnic apparel under the brand name VIVIDHA, has a direct presence in more than 15 different places around India. The SAREE & LEHENGA market is estimated to be worth more than Rs. 50,000 crores, and the company has one of the industry's most integrated infrastructures and capacities.

By the Companies Act of 1956, Visagar Polytex Limited (VPL) was first established on June 16, 1983, under the name "Barasia Holding & Trading Co. Limited." On November 27, 2006, the firm's name was changed to "Visagar Polytex Limited," and a new Certificate of Incorporation was issued as a direct result of the name change. VPL is a firm that is managed professionally and is pushed by innovative businesspeople who have a 100% dedication to quality, honest business methods, and a goal of offering the highest possible quality goods to a clientele that is continually expanding. It has established itself as a renowned brand name in the industry of saree production over many years.

In November 1983, VPL had its first public offering, which consisted of 2,47,930 equity shares priced at Rs. 10 apiece at par. The shares were then listed on the Bombay Stock Exchange in Mumbai. In May 2008, VPL made a further issue of 4,96,000 equity shares of Rs. 10 each at par as a rights issue to the shareholders of the company in the ratio of 2 (two) equity shares for every 1 () equity shares held as of the Record Date, which was April 22, 2008. This was done in May 2008 as a rights issue. The Rights Issue raised Rs. 49,60,000 in capital for the company.

The firm satisfied its long-term working capital needs using the issuance proceeds, which were utilized to pay for general and administrative expenses. As the firm's textile activities began to pick up steam, the company's management concluded that it would be beneficial to establish a brand name to advertise the goods produced by the company. Do you want to know about the Visagar Polytex Shares? Click Here to know about today’s Visagar Polytex Share Price.