Allotment of 1,00,200 Equity Shares of Rs. 10/- each upon conversion/ exchange of equal number of warrants
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Trident Lifeline Ltd has allotted 1,00,200 equity shares (face value Rs. 10 each) at an issue price of Rs. 266 per share, after converting an equal number of warrants into equity shares. The company received Rs. 1.99 crore from warrant holders who paid the remaining 75% of the issue price. Two warrant holders — Hardik Desai Family Trust (fully converted 89,400 warrants) and Maniya H Desai (partially converted 10,800 of 99,000 warrants, with 88,200 still pending) — exercised their conversion option. With this allotment, the company's paid-up equity share capital has risen to Rs. 11.80 crore, consisting of 1,17,98,000 equity shares. The new shares will rank equally with the existing shares.
This is a routine warrant-to-equity conversion that slightly dilutes existing shareholders but brings in fresh capital (about Rs. 2 crore). Since most warrants were held by a promoter-related trust, the dilution effect on retail shareholders is limited. The 88,200 pending warrants could lead to further share issuance in the future.