TLTrident Lifeline543616Preferential allotment

Board approves corrigendum to EGM notice for preferential issue; changes objects of issue proceeds

Board approved a corrigendum to the EGM notice for the proposed preferential issue.

By ScoutQuest · Fri 16 Oct 2026, 2:09 PM IST · 2 min read

Equity Shares Proposed

12,22,200 equity shares to Non-Promoter/Public

Warrants Proposed

5,00,400 warrants to Promoter/Promoter Group & Non-Promoter/Public

Issue Proceeds Totals

Item No. 2 total 4113.93 lacs; Item No. 3 total 1684.35 lacs

What was decided

The board of directors met on October 16, 2026, from 01.30 P.M. to 01.45 p.m., and approved a corrigendum to the notice of the Extra-Ordinary General Meeting. The update states that the stock exchange instructed the company to provide certain information about the preferential issue, and that certain changes were also to be made in the special resolution and explanatory statement seeking members' approval.

The earlier board decision referred to in the update was to issue 12,22,200 equity shares to persons belonging to the Non-Promoter/Public category and 5,00,400 warrants to persons belonging to the Promoter/Promoter Group and Non-Promoter/Public category, by way of preferential allotment in terms of SEBI (ICDR) Regulations, 2018, subject to all-necessary approvals. The board was also authorised to settle any question, difficulty or doubt arising later in respect of the preferential issue.

Objects of the issue proceeds - Item No. 2

• Working capital requirement: 1028.97 lacs
• Investment in subsidiaries/associates/joint ventures and their working capital requirements: 2056.96 lacs
• Business expansion and other general corporate purposes: 1028 lacs
• Total: 4113.93 lacs

Objects of the issue proceeds - Item No. 3

The same three heads appear here - working capital requirement, investment in subsidiaries/associates/joint ventures and their working capital requirements, and business expansion and other general corporate purposes.

• Total: 1684.35 lacs

Timeline

For both sets of objects, the update states the proceeds are to be used within 24 months from receipt of the issue proceeds.

Allottee and UBO details

The board added/changed the ultimate beneficial owner (UBO) details in the explanatory statement of Item No. 2. The table set out in the update carries the name of the allottee, its PAN, the UBO's name and PAN, pre-issue holding, the percentage of pre-issue capital, the number of equity shares proposed to be issued, and the percentage of post-issue capital. The two allottees listed in this change are Finco's Technology Solutions Private Limited and Rushabh Vinay Nisar HUF.

Other points

• The link to the compliance certificate issued by the PCS has been provided in the explanatory statements of Item No. 2 and Item No. 3.
• The board approved the draft of the corrigendum to the notice of the Extra-Ordinary General Meeting, incorporating the above changes and the stock exchange's instructions at their respective places.

How to read this

This update updates the documents that shareholders will consider for the proposed preferential issue. The amounts proposed under each head of utilisation, and the total under each of the two explanatory statements, are now stated as above. A preferential allotment of equity shares and warrants adds to the shares and warrants the company may issue, and the number proposed is stated in the update. The two per cent figures shown for the listed allottees refer to their share of the post-issue capital after the proposed allotment.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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