Outcome of Board Meeting dated Thursday, 10th April 2025.
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The board approved changing the company name from Adinath Exim Resources Limited to Trustedge Capital Limited, subject to shareholder approval. It also cleared raising the authorized share capital from Rs. 5.5 crore to Rs. 7 crore. Through a preferential issue, up to 8,85,000 equity shares will be allotted to members of the promoter group at Rs. 57 per share (including a Rs. 47 premium), bringing in roughly Rs. 5.04 crore. The board adopted the TEDGE ESOS 2025 employee stock option scheme with a pool of 10 lakh options, and granted options equal to or above 1% of issued capital to identified employees. Mr. Manoj Shantilal Savla was re-designated as Chairman and Managing Director for 3 years. An EGM is scheduled for May 9, 2025 to seek shareholder approvals.
Existing non-promoter shareholders will see their stake diluted as promoter group holdings rise (e.g., Avani Dharen Savla moves from 8.44% to 11.44%). The name change and capital raise suggest a strategic shift toward capital/financial services. Promoters putting in fresh equity at a premium signals internal confidence, while the ESOP pool may cause further dilution over time.