The Board has approved alteration in the Memorandum of Association of the Company subject to the approval of the members.
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Trident Lifeline's board has approved increasing the company's authorised share capital from Rs. 12 crore to Rs. 15 crore (adding 30 lakh equity shares of Rs. 10 each). The company plans to issue up to 9,99,000 fully convertible warrants on a preferential basis to 26 allottees, including promoters/promoter group members and non-promoter/public investors. Each warrant is convertible into one equity share at Rs. 266 per share (Rs. 10 face value + Rs. 256 premium), bringing in up to Rs. 26.57 crore. Allottees need to pay only 25% upfront, with the remaining 75% due on conversion within 18 months. An extra-ordinary general meeting has been scheduled for May 9, 2025, to seek shareholder approval for the proposal. After full conversion, promoter holding will slightly dilute from 63.04% to 62.79%, while public holding rises marginally from 36.96% to 37.21%.
The preferential warrant issue will raise fresh capital of up to Rs. 26.57 crore for the company but will lead to mild dilution of existing shareholders once warrants are converted. The strong premium of Rs. 256 over face value signals confidence from promoters and selected investors in the company's growth prospects, though the warrants represent a potential overhang on the stock over the next 18 months.