Issue of further Equity Shares under Preferential Issue.
Price
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Awaiting price reaction for this filing.
The board of Trustedge Capital Ltd (formerly Adinath Exim Resources Ltd) approved multiple corporate actions at its April 10, 2025 meeting. The company will change its name to Trustedge Capital Limited and increase its authorized share capital from Rs. 5.5 crore to Rs. 7 crore. It plans to issue up to 8,85,000 equity shares on a preferential basis to five promoter group entities at Rs. 57 per share (including a Rs. 47 premium over face value), raising around Rs. 5.04 crore. The company also adopted the TEDGE ESOS 2025 stock option scheme with a pool of 10 lakh options and re-designated Mr. Manoj Shantilal Savla as Chairman & Managing Director for three years. An EGM is scheduled for May 9, 2025 to seek shareholder approvals.
The preferential issue is entirely to promoter group members, which will dilute existing public shareholders while strengthening promoter control — for example, the Shantilal Savla Family Trust's stake will rise from 4.33% to 8.66%. The name change and fresh capital infusion suggest a strategic pivot, but the small size of the raise (Rs. 5 crore) limits material impact on the stock price.