Trident Texofab Ltd Forfeits Warrants After Lapse Period Ends; Capital Structure Unaffected
Trident Texofab Ltd has confirmed the forfeiture of a significant number of fully convertible warrants following their expiration, noting that the transaction results in no changes to the company’s paid-up equity share capital.The company had previously allotted a total of 58,37,143 Fully Convertible Warrants. These warrants were issued as part of a preferential allotment and carried an issue price of Rs. 70/- each. The warrants were originally allotted on December 23, 2024, with a defined tenure of one to a half years from the date of allotment.
According to the company's records, out of the total warrants issued, only 49,25,644 were exercised by warrant holders. The remaining 9,11,479 warrants lapsed after the prescribed period ended on June 22, 2026.
The Board of Directors reviewed the situation and approved the forfeiture of these 9,11,479 warrants. As per the regulations governing the issuance of capital, the upfront consideration received from warrant holders who failed to exercise their option within the stipulated period was forfeited by the company.
The amount forfeited, relating to the subscription money on the lapsed warrants, totaled Rs. 1,59,50,882.50.
Details of Warrants and Forfeiture
A summary of the warrant status and forfeiture details is provided below:| Particulars | Detail |
|---|---|
| Type of Securities | Full Convertible Warrants |
| Total Number of Warrants Originally Allotted | 58,37,143 |
| Issue Price per Warrant | Rs. 70/- |
| Date of Allotment | 23.12.2024 |
| Tenure | 1.5 months from date of allotment |
| Number of Warrants Exercised | 49,25,644 |
| Number of Warrants Lapsed | 9,11,479 |
| Amount Forfeited | Rs. 1,59,50,882.50 |
Consequent to this forfeiture, all outstanding warrants have lapsed and stand cancelled. The company stated that there is no change in the issued, subscribed, and paid-up equity share capital of Trident Texofab Ltd following the lapse of these warrants.
The details regarding the warrant holders whose options did not lapse are provided in the table below:
| Name of Warrants holder | Warrants Lapsed | Amount Forfeited (Rs.) |
|---|---|---|
| Bhavesh Harishbhai Ariwala | 2,85,714 | 49,99,995.00 |
| Ravikumar Kanaiyal Ariwala | 2,85,714 | 49,69,695.00 |
| Premal Patil Mehta | 1,42,857 | 24,99,997.50 |
| Tilal Mehta | 1,42,857 | 24,99,997.50 |
| Di Vikrambhai Desai | 4,334 | 75,845.00 |
| Shashira Hansr Patel | 6,668 | 11,66,690 |
| Ra Kumar Jain | 16,667 | 2,91,672.50 |
| Prade Bothra | 20,000 | 3,50,000 |
| Harshit Kumar S I | 6,668 | 11,66,690 |
| TOTAL | 9,11,479 | 1,59,50,992.50 |
Stock Price Movement
Shares of Trident Texofab Ltd finished the day on Thursday at ₹35.98, after shedding 2.70% in market trading. The shares navigated a challenging intraday range, with the equity hitting a low of ₹35.50 but also briefly reaching a high of ₹37.43.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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