Conversion of 4,81,907 warrants into 4,81,907 equity shares of face value of Rs. 10/- each
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Trident Texofab's board approved converting 4,81,907 convertible warrants into equity shares at Rs. 70 each (face value Rs. 10, premium Rs. 60). The company received Rs. 2.53 crore as the balance 75% payment from 6 non-promoter allottees, completing their conversion process that began with warrant allotment in December 2024. As a result, the company's paid-up equity capital has risen to Rs. 14.99 crore, comprising 1,49,95,764 equity shares. Around 9,11,479 warrants are still pending conversion and must be exercised within 18 months of the original allotment.
Existing shareholders face minor dilution (~3.3% increase in share count). The event was largely anticipated since warrants were already allotted in Dec 2024, so the market impact should be limited. The company strengthens its equity base by Rs. 2.53 crore, with no negative cash-flow implication since the funds were already expected.