The Board of Directors in their Meeting held on June 09, 2025 have allotted 994200 Fully Convertiable Warrants to Promoters/Non Promoter upon receipt of 25% of issue price.
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Trident Lifeline Ltd's Board, at its meeting on June 9, 2025, approved the allotment of 9,94,200 Fully Convertible Warrants at Rs. 266 per warrant (including a premium of Rs. 256 over the face value of Rs. 10) on a preferential basis. Each warrant is convertible into one equity share of the company. The company has already received 25% of the issue price (~Rs. 6.6 crore), and the balance 75% is payable within 18 months. Allottees include promoter group entities and individuals such as Hardik Desai Family Trust, Amit Halvawala, and Trident Texofab Ltd, along with non-promoters like Nachiket Amin and Bootstrap Combinator LLP. Total potential capital raise upon full conversion is approximately Rs. 26.4 crore.
The allotment strengthens the company's capital base and signals promoter confidence, though it is dilutive in nature once warrants are converted. Shareholders should expect potential equity dilution within 18 months when the balance amount is paid and shares are issued.