Trident Limited board approves fund raising proposals

The Board of Directors of Trident Limited had approved the resolution for raising of funds and further recommended enabling resolution for approval of shareholders.

The board approved proposal for an amount not exceeding INR 600 Crore by issue of Non-Convertible Debentures by way of public or private offering, in one or more tranches.

The board also approved proposal for an amount not exceeding INR 500 Crore by issue of equity shares, non convertible debt instruments along with warrants, convertible debt instruments, convertible securities other than warrants or foreign currency convertible bonds and / or such other securities, as may be permitted, by way of a public or private offering, including Qualified Institutions Placement or any combination thereof, or any other method as may be permitted under applicable law, in one or more tranches, subject to such regulatory / statutory approvals, as may be required.

Shares of TRIDENT LTD. was last trading in BSE at Rs.4.89 as compared to the previous close of Rs. 4.75. The total number of shares traded during the day was 304769 in over 4289 trades.

The stock hit an intraday high of Rs. 4.9 and intraday low of 4.77. The net turnover during the day was Rs. 1471776.

Source : Equity Bulls

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