The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Hardik Desai Family Trust & PACs
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The Hardik Desai Family Trust along with 12 persons acting in concert (PACs) — all part of the promoter group — acquired a total of 189,000 convertible equity warrants of Trident Lifeline Limited on June 9, 2025, through a preferential offer. Individual allotments ranged from 2,400 to 189,000 warrants across the group members, with Hardik Desai Family Trust getting the largest chunk. After this acquisition, the combined promoter group holding rises to roughly 63% of the basic equity capital and about 67.8% on a fully diluted basis (assuming warrant conversion). The equity share capital of the company remains at ₹11.49 crore (1,14,99,200 shares of ₹10 each), while the diluted capital post-allotment stands at ₹12.49 crore (1,24,93,400 shares). This filing was made under SEBI's takeover regulations to disclose the promoter group's increased stake via the preferential route.
This signals a significant strengthening of promoter control in Trident Lifeline, with the promoter group crossing well above the 50% threshold on a diluted basis. For shareholders, this means greater promoter influence over company decisions and reduced free float, though it also reflects promoter confidence and commitment of fresh capital into the business.