Conversion of 4,08,333 warrants into 4,08,333 equity shares of face value of Rs. 10/- each.
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Trident Texofab's board approved conversion of 4,08,333 warrants into equal number of equity shares (face value Rs. 10) at Rs. 70 per share, including a Rs. 60 premium. These warrants were originally allotted on a preferential basis to 17 non-promoter public category allottees on December 23, 2024, with 25% paid upfront; the company has now received the remaining 75% (Rs. 52.50 per warrant), aggregating to Rs. 2.14 crore. After this conversion, the company's paid-up capital rises to Rs. 13.97 crore, consisting of 1,39,67,093 equity shares. Still 19,40,150 warrants remain pending conversion. Separately, the board approved a postal ballot notice to appoint Mr. Katwala Sandip Jayeshkumar as a Non-Executive & Independent Director.
The conversion increases the share count, leading to mild dilution for existing shareholders. It also brings in Rs. 2.14 crore of fresh capital, strengthening the company's funds. Most warrants are already converted, so further dilution may be limited.