Shareholder of Trident Ltd today approved a proposal to raise Rs 60 crore by issuing shares through private placement on preferential basis, at the annual general meeting of the company.
"The proposal to issue and offer of Non-Convertible, Cumulative, Redeemable Preference Shares on Private Placement basis was approved by majority of shareholder," the company said in a BSE filing.
According to the proposal, the company will issue six crore shares having face value of Rs 10 each. The company would have raise the money through preference share within a year's time.
The shareholders also approved a proposal for implementation of the Trident Employee Stock Option Scheme, 2015 through trust route.
The proposal for authorisation to the ESOS Trust for secondary acquisition of shares and provision of money for acquisition of shares of the company was also approved.
