Trident Lifeline Limited has submitted a regulatory disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015, regarding a private placement of equity shares by its subsidiary company, Trident Mediquip Limited (TML).
Key Quantitative Figures
- Pre-allotment shareholding of Trident Lifeline Limited in TML: 59.67%
- Post-allotment shareholding of Trident Lifeline Limited in TML: 58.23%
- Trident Mediquip Limited's authorized share capital: ₹11,00,00,000 divided into 1,10,00,000 equity shares of ₹10 each
- Trident Mediquip Limited's paid-up share capital: ₹10,24,69,800 divided into 1,02,46,980 equity shares of ₹10 each
- Turnover figures for Trident Mediquip Limited:
- Financial Year 2023-24: ₹20.58 Cr
- Financial Year 2024-25: ₹21.29 Cr
- Financial Year 2025-26: ₹27.31 Cr
Transaction Details
The private placement allotment to other shareholders has reduced Trident Lifeline Limited's stake in its subsidiary from 59.67% to 58.23%. The transaction is classified as a related party transaction since TML is a subsidiary of Trident Lifeline Limited, and certain promoters/promoter group members/directors of Trident Lifeline Limited have an interest in TML. Specifically mentioned are Mr. Amit Bhupendra Halvawala, Mr. Chetan Chandrakant Jariwala (director's relative of Rupaben Jariwala), and Mr. Hardik Jigishkumar Desai. The transaction was conducted on an arm's length basis.
Entity Background
Trident Mediquip Limited was incorporated on October 19, 2019, under the Companies Act, 2013, with its registered office in Surat, Gujarat. The company operates in the medical device industry and has presence in India.
Additional Information
- No governmental or regulatory approvals were required for this acquisition
- No indicative time period for completion was provided
- No consideration details (cash or share swap) were disclosed
- No cost of acquisition or price per share was disclosed