Updates

Date: 21-08-2026 To, To, The Secretary, Listing Department The Manager-Listing Department BSE Limited, The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street, Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Fort, Mumbai - 400001, Maharashtra, Bharat Kurla Complex, Bandra (E), Mumbai - 400051, Maharashtra, Bharat Respected Sir/Madam, Subject: Disclosure of Filing Expression of Interest for Participation in the Corporate Insolvency Resolution Process (CIRP) of Varidhi Cotspin Private Limited. We are pleased to inform that Axita Cotton Limited a leading Cotton Bales Manufacturer, has on August 21, 2026 submitted Expression of Interest for participation in the Corporate Insolvency Resolution Process (CIRP) of Varidhi Cotspin Private Limited. Varidhi Cotspin Private Limited (Varidhi) is a manufacturer of cotton yarn located in Dholka, Ahmedabad, Gujarat and having its Manufacturing Unit established in 2017. Varidhi is having a spinning facility housing 29,184 spindles featuring a spinning unit capacity of roughly 4,442 metric tonnes per annum (MTPA). Its produce Ring Spun 100% Cotton, Compact, Combed, Carded Yarn for hosiery and weaving industries. Axita Cotton Limited is keen to acquire Varidhi Cotspin Private Limited through the Insolvency and Bankruptcy Code (IBC) process, which is expected to complement the Company’s existing operations and support its long-term business expansion strategy by strengthening its presence across the cotton value chain. Axita Cotton Limited has established itself as a quality-focused cotton manufacturer and exporter, with a strong emphasis on quality, timely delivery, customer satisfaction, innovation and sustainability. The Company’s established presence in the cotton industry provides a strong foundation to explore opportunities in complementary segments of the textile value chain. The proposed participation in the CIRP of Varidhi represents a strategic opportunity for Axita Cotton Limited to expand its business operations and explore potential synergies in cotton and yarn manufacturing. Kindly take the same on your record and oblige. Thanking You, Yours Faithfully, FOR AXITA COTTON LIMITED Nitinbhai Govindbhai Patel Chairman & Managing Director Date: 21-08-2026 DIN: 06626646 Place: Ahmedabad