Raising of Funds by issue of Equity Shares under Preferential Issue.
Price
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The board approved raising about Rs. 5.04 crore by issuing up to 8,85,000 equity shares at Rs. 57 each (a premium of Rs. 47 over the face value of Rs. 10) to five members of the promoter group on a preferential basis. The company is also changing its name from Adinath Exim Resources Limited to Trustedge Capital Limited and increasing its authorized share capital from Rs. 5.5 crore to Rs. 7 crore to accommodate the new shares. A new employee stock option plan, 'TEDGE ESOS 2025', with a pool of 10 lakh options, was adopted. Additionally, Mr. Manoj Shantilal Savla was re-designated as Chairman & Managing Director for 3 years, and an EGM was scheduled for May 9, 2025, to seek shareholder approvals.
The preferential issue is fully subscribed by the promoter group, signalling promoter confidence and a modest capital infusion, but it will dilute existing public shareholders slightly as promoter holdings rise. The name change and ESOP scheme suggest a strategic shift toward a capital/finance-focused identity, though the size of the raise is small and likely to have a limited direct effect on the stock price.