Varvee Global will hold its 37th Annual General Meeting on September 30 via video conferencing. Shareholders can participate and vote remotely, with e-voting details provided for convenience.
Board meeting held. Appointed Jaimin Gupta as CFO, leveraging his textile industry and finance experience. Mrs. Abira Mansuri resigned as Company Secretary and Compliance Officer.
Varvee Global Ltd. has incorporated a wholly-owned subsidiary, Varvee Energy Private Limited, to operate in the renewable energy sector, including generation and supply. The subsidiary's initial paid-up share capital is Rs. 10 Lakhs.
Varvee Global is shifting focus from denim to higher-margin non-denim fabrics like shirting and suiting. Capacity for non-denim is increasing from 12 lakh to 18 lakh meters monthly, aiming for 50 lakh meters. The company achieved debt-free status, strengthening its financial base.
Varvee Global confirms it does not meet the "Large Corporate" criteria for fundraising, impacting its debt issuance framework.
