Trident Ltd approved an investment of up to ₹250 crore in Trident Global Corp Ltd (TGCL) to acquire a strategic stake.
The investment will be made in one or more tranches over time.
The Board of Trident Ltd on Tuesday approved investment of up to ₹250 crore in the equity shares of Trident Global Corp Ltd, a public limited company engaged in marketing and selling home textiles, in a bid to acquire a strategic stake in the firm.
The infusion of funds will be carried out in one or more tranches from time to time. The acquisition of equity shareholding of 30.42% by Trident Ltd in Trident Global Corp Ltd (TGCL) will fall within related party transactions and shall be subject to completion of regulatory procedures and formalities.
The Trident Group, in a regulatory filing, informed that the Board of Directors has approved investment in the equity shares of Trident Global Corp Ltd, a public limited company up to ₹250 crore, from time to time in one or more tranches.
"The acquisition shall help the company to secure immediate access to the domestic brand market, leverage the existing company's manufacturing for select categories, strengthen brand equity, and position the company as a multi-category home solutions and to mitigate the geopolitical conditions, including US tariffs and to take the benefit of the Swadeshi movement," the filing stated.
