Trident Lifeline Limited has made a regulatory disclosure to BSE Limited regarding a private placement of equity shares by its subsidiary company, Trident Mediquip Limited (TML).
Subsidiary Company Details
- Date of Incorporation: October 19, 2019
- Industry: Medical Device Industry
- Presence: India
Capital Structure of Trident Mediquip Limited
- Authorized Share Capital: ₹10,00,00,000 divided into 1,00,00,000 Equity Shares of ₹10 each
- Paid-up Share Capital: ₹9,97,00,000 divided into 99,70,000 Equity Shares of ₹10 each
Financial Performance (Turnover)
- Financial Year 2023-24: ₹20.58 Cr
- Financial Year 2024-25: ₹21.29 Cr
- Financial Year 2025-26: ₹27.31 Cr
Transaction Details
Trident Mediquip Limited has made a private placement of equity shares to other shareholders. As a result of this allotment:
- Pre-transaction holding of Trident Lifeline Limited in TML: 59.17%
- Post-transaction holding of Trident Lifeline Limited in TML: 58.84%
Related Party Transaction
The transaction qualifies as a related party transaction since:
- Trident Mediquip Limited is a subsidiary of Trident Lifeline Limited
- Mr. Amit Bhupendra Halvawala and Mr. Chetan Chandrakant Jariwala (director's relative of Rupaben Jariwala) are member cum Directors
- Mr. Hardik Jigishkumar Desai is a member
- All of the above individuals are part of promoters/promoter group/board of Trident Lifeline Limited and have an interest in Trident Mediquip Limited
The company states that the transaction is being undertaken on an arm's length basis.
Purpose of Transaction
The private placement was conducted to facilitate further allotment of shares to other shareholders, resulting in Trident Lifeline Limited's stake in its subsidiary reducing to 58.84%.
Regulatory Approvals and Timeline
- Governmental or regulatory approvals required: Not applicable (NA)
- Indicative time period for completion: Not applicable (NA)
Consideration Details
- Consideration type: Not disclosed (NA)
- Cost of acquisition/price per share: Not disclosed (NA)