Board of Directors of the company on the meeting held on today dated 16.04.2025 has approved the 1. increase in authorized share capital 2. Approved to create, issue, offer and allot, up ....
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Trident Lifeline's board approved increasing the authorized share capital from Rs. 12 crore to Rs. 15 crore on April 16, 2025. The company plans to issue up to 9,99,000 fully convertible equity warrants on a preferential basis to 26 allottees, including promoters, promoter group entities, and non-promoter investors. Each warrant carries a face value of Rs. 10 and an issue price of Rs. 266 (including a premium of Rs. 256), aggregating up to Rs. 26.57 crore in total consideration. Warrants require 25% payment at subscription and the remaining 75% on conversion within 18 months. An Extra-Ordinary General Meeting has been scheduled for May 9, 2025 to seek shareholder approval.
This preferential warrant issue will dilute existing shareholders by roughly 8.7% on a fully diluted basis, with promoter holding slightly reducing from 63.04% to 62.79%. The high issue price of Rs. 266 (a 26x premium over face value) suggests the company is raising growth capital at attractive valuations, but existing public shareholders will see their stake diluted if all warrants are converted.