The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Maniya Hardik Desai & PACs
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Trident Lifeline Limited has filed a disclosure under SEBI SAST Regulation 29(2) for Maniya Hardik Desai and 11 persons acting in concert (PACs) including family members, the Hardik Desai Family Trust, and Trident Texofab Limited. The acquisition was made on June 9, 2025, through the allotment of warrants by the company. The PAC group collectively already holds a significant majority stake in the company, with Hardik Jigishkumar Desai alone holding 2,702,150 shares (23.50%) — the single largest holding. Other notable holdings include Gajera Mohak (7.03%), Maniya H Desai (5.84%), and Anjanaben Jigishkumar Desai (5.84%). The warrants allotted, once converted, will further increase the promoter group's already substantial stake in the company.
This is a promoter-group warrant allotment that will strengthen the existing controlling family's grip on the company. For retail shareholders, this signals continued promoter confidence but also reduces the possibility of any change in control or fresh equity participation by new investors.