Pursuant to the approval of the Shareholders in the Extra ordinary General Meeting held on May 09, 2025, and pursuant to the receipt of the 25% of issue price/application money, we wish ....
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Trident Lifeline Ltd's Board has approved the allotment of 9,94,200 fully convertible warrants at Rs. 266 per warrant (including a premium of Rs. 256 on a face value of Rs. 10), on a preferential basis to promoter group entities and non-promoter allottees. The company has received 25% of the issue price upfront, with the remaining 75% payable within 18 months before conversion into equity shares. The total issue size is approximately Rs. 26.4 crore. The largest allottee is Hardik Desai Family Trust (1,89,000 warrants), followed by Amit Bhupendra Halvawala (1,39,800) and Maniya H Desai (99,000), indicating strong promoter-group participation.
This preferential warrant allotment will dilute existing shareholders upon future conversion but brings in fresh capital (~Rs. 26.4 crore potential inflow) and shows promoter confidence. Shareholders should note the lock-in implications and that full equity dilution will only occur if and when warrants are converted within 18 months.