Outcome of Board Meeting of the Company held on Monday, May 12, 2025 for 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, on May 12, 2025, approved the conversion of 4,08,333 warrants into an equal number of equity shares at Rs. 70 each (face value Rs. 10 plus a Rs. 60 premium). The company received Rs. 2.14 crore as the remaining 75% payment from 17 allottees under the Non-Promoter, Public Category. This is part of the original 58,37,143 warrants allotted on a preferential basis on December 23, 2024. After this conversion, the company's paid-up equity capital rose to Rs. 13.97 crore, comprising 1,39,67,093 shares. Around 19.40 lakh warrants are still outstanding and eligible for conversion within 18 months. The Board also cleared a Postal Ballot to appoint Mr. Katwala Sandip Jayeshkumar as a Non-Executive Independent Director.
This is a small equity dilution of about 4.08 lakh shares, with roughly 19.4 lakh more warrants still pending conversion, which could add further dilution in coming months. Existing shareholders may see a minor reduction in their proportional ownership, though the Rs. 2.14 crore raised strengthens the company's equity base modestly.