Trident Lifeline Limited has intimated the exchange about the issue of warrants on preferential basis subject to the approval of members.
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Trident Lifeline's board has approved issuing up to 9,99,000 fully convertible warrants to 26 investors (promoters, promoter group, and non-promoters) on a preferential basis at Rs. 266 per warrant (including Rs. 256 premium), potentially raising up to Rs. 26.57 crore. Each warrant is convertible into one equity share of Rs. 10 face value within 18 months, with 25% payable upfront and 75% on conversion. The board also approved increasing authorised share capital from Rs. 12 crore to Rs. 15 crore to accommodate the issue. An EGM is scheduled for May 9, 2025, to seek shareholder approval. Post-issue promoter holding will marginally dip from 63.04% to 62.79%, with public holding rising from 36.96% to 37.21% on a fully diluted basis.
This is a small dilutive capital raise (~Rs. 26.6 crore) with mostly promoter and known investor participation, so equity dilution is limited. Shareholders should watch the EGM outcome on May 9 and the conversion timeline, as warrant exercise will dilute existing shareholdings further.