Conversion of 4,81,907 warrants into 4,81,907 equity shares of face value of Rs. 10/- each
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Awaiting price reaction for this filing.
Trident Texofab's board approved conversion of 4,81,907 warrants into equity shares of Rs. 10 face value at an issue price of Rs. 70 per share (including Rs. 60 premium). The company received Rs. 2.53 crore as the balance 75% payment from 6 non-promoter allottees. After this conversion, the company's paid-up capital increased to Rs. 14.99 crore, comprising 1,49,95,764 equity shares. About 9,11,479 warrants remain pending for conversion within the 18-month window from the original December 2024 allotment.
This is a dilution event for existing shareholders as new shares are being issued, but the company is also receiving fresh capital (Rs. 2.53 crore) from warrant holders exercising their conversion rights. The stock may see minor pressure due to increased share count, though the issuance was already pre-announced in December 2024.