Trident Ltd to issue 1.5 crore shares

The Board of Directors of Trident Ltd at its meeting held on March 30, 2012, has appointed Mr. Abhishek Gupta as Additional Director of the Company.

The Board has approved allotment of 1.5 crore Equity Shares to Trident Capital Limited, a Promoter Group entity and 1.5 crore Equity Shares to Glaze Ventures Private Limited, a Non Promoter entity pursuant to exercise of conversion option attached to convertible warrants issued on preferential basis on April 27, 2011. The Warrants have been converted into equivalent number of equity shares of face value of Rs. 10/- each at a price of Rs. 17.05 per equity share in accordance with SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009. Consequent to this allotment, the paid up equity share capital of the Company has increased to Rs. 305,83,71,120/-.

The Trident Ltd stock closed the day at Rs.10.61, up by Rs.0.56 or 5.57%. The stock hit an intraday high of Rs.11.88 and low of Rs.10.10.

The total traded quantity was 2.18 lakhs compared to 2 week average of 0.47 lakhs.

Source : Equity Bulls

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