Board approves preferential allotment of 12,22,200 equity shares and up to 5,00,400 warrants; Articles to be altered

Board of Directors, at its meeting on October 05, 2026, approved a preferential issue of 12,22,200 equity shares at Rs.336.60 each (Rs.

Mon 5 Oct 2026

Equity shares approved

12,22,200 equity shares at Rs.336.60 each (Rs. 41,13,92,520)

Warrants approved

up to 5,00,400 fully convertible warrants at Rs.336.60 each (up to Rs. 16,84,34,640)

Warrant conversion terms

Each warrant converts into 1 equity share of face value Rs. 10/-; exercisable in one or more tranches until expiry of 18 months

Warrant payment schedule

25% payable at allotment, 75% on exercise

EGM date

October 27, 2026

Board meeting outcome, October 05, 2026

The Board of Directors of Trident Lifeline Limited met on Monday, October 05, 2026 and, among other things, approved a preferential issue of equity shares and fully convertible warrants, and an alteration to the Articles of Association. The securities are proposed to be issued subject to the approval of the members of the Company and applicable regulatory authorities.

What is proposed to be issued

• 12,22,200 equity shares of face value Rs. 10/- each at an issue price of Rs.336.60/- per equity share, aggregating Rs. 41,13,92,520/-, to persons belonging to the public category (Non Promoter/Public).
• Up to 5,00,400 fully convertible warrants at an issue price of Rs.336.60/- per warrant, aggregating up to Rs. 16,84,34,640, to Promoter/Promoter Group and Non Promoter/Public.
• Each warrant is convertible into, or exchangeable for, 1 fully paid-up equity share of face value Rs. 10/- each, and may be exercised in one or more tranches from the date of allotment of the warrants until expiry of 18 months.
• The price includes a premium of Rs. 326.60 per equity share and per warrant.
• The preferential issue is for cash consideration. An amount equal to 25% of the warrant issue price is payable at the time of subscription and allotment of each warrant, and the balance 75% is payable by the warrant holder(s) on exercise of the warrants.

Who is subscribing

The list of proposed allottees covers 33 investors in total, across Promoter, Promoter Group and Non-Promoter categories, with the maximum number of equity shares and/or warrants offered to each. The equity shares are proposed to the Non Promoter/Public group, while the warrants are proposed to Promoter, Promoter Group and Non-Promoter persons.

Shareholding before and after

• Promoters & Promoters' Group: 74,68,400 shares (62.46%) before the issue, 80,11,400 shares (56.35%) after.
• Public: 44,88,600 shares (37.54%) before, 62,04,600 shares (43.65%) after.
• Total: 1,19,57,000 shares (100.00%) before, 1,42,16,000 shares (100.00%) after.

The update states that the post-issue shareholding pattern has been prepared on the basis that the proposed allottees will subscribe to all the warrants which they intend to, on a fully diluted basis, assuming the pre-issue shareholding continues to be the same, and presuming that all warrants subscribed are converted into equity shares. It adds that if the allottees do not or are unable to subscribe to and/or are not allotted warrants, the pattern would undergo corresponding changes. The post-issue pattern is also stated to be considered after the outstanding allotment of warrants of 5,36,400 and the current equity shares and warrants.

Alteration of Articles of Association

The Board approved the insertion of a new sub-article IV in the existing article 7, giving the Board power to issue or re-issue bonds, debentures, debenture-stock, warrants or other securities of one or more classes liable to be redeemed or converted into equity shares or any other class, on terms determined by the Board. It provides that such securities issued with the right to allotment of or conversion into equity shares shall not be issued except with the sanction of the Company in general meeting. This alteration is also subject to approval by the members.

Next steps

• An Extra-Ordinary General Meeting will be convened on Tuesday, October 27, 2026 through video conferencing or other audio-visual means, to seek members' approval for the issuance.
• National Securities Depository Limited has been appointed as the remote e-voting agency, and CS Mehul Amareliya, Practicing Company Secretary, as scrutinizer for the remote e-voting process and voting at the EGM.
• The notice of the EGM will be submitted to the stock exchange and the e-voting agency once emailed to eligible shareholders, and will also be hosted on the Company's website.

How a retail reader can look at it

• The proposal adds new equity shares and, on conversion, further equity shares, so the total share count is shown rising from 1,19,57,000 to 1,42,16,000 on a fully diluted basis.
• Promoter & Promoter Group holding on that fully diluted basis moves from 62.46% to 56.35%, and Public holding from 37.54% to 43.65%.
• Money comes in two stages for the warrants: 25% on subscription and allotment, and 75% on exercise within the stated 18-month window.
• The equity shares and warrants are proposed to be issued only after members' approval at the EGM on October 27, 2026, and the warrant issue price was determined as per the applicable ICDR Regulations based on a valuation report.
• The Articles alteration creates the enabling provision for the Board to issue warrants and other convertible securities in future, with equity-linked issuance still requiring the sanction of the Company in general meeting.

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