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, in a meeting on June 4, 2025, approved the conversion of 4,81,907 warrants into an equal number of equity shares of Rs. 10 face value at Rs. 70 per share (including Rs. 60 premium). The company received Rs. 2.53 crore as the balance 75% amount (Rs. 52.50 per warrant) from six non-promoter allottees. This follows the original warrant allotment of 58,37,143 warrants on December 23, 2024 on a preferential basis. After this conversion, the company's paid-up equity capital has risen to Rs. 14,99,57,640, comprising 1,49,95,764 shares. About 9,11,479 warrants remain pending conversion within 18 months of the original allotment date.
This conversion results in modest equity dilution for existing shareholders and brings in Rs. 2.53 crore of fresh capital. With another 9.11 lakh warrants still pending conversion, further dilution is possible if those are exercised, which could weigh on the stock in the near term.