Trident Ltd Expands Holdings with Acquisition of Trident Global B.V.

On June 11, 2024, Trident Home Textiles Limited (THTL), a wholly owned subsidiary of Trident Limited, made an additional investment in Trident Global B.V., which is itself a wholly owned subsidiary of Trident Home Textiles Limited and a step-down subsidiary of Trident Limited.

Details of the Acquired Entity

The acquisition of Trident Global B.V. aims to bolster Trident Limited’s business interests, particularly within the textiles, paper, non-food consumer goods, and clothing accessories industries. This strategic move enhances Trident’s presence and capabilities in these sectors, aligning with its overarching business objectives and potentially opening avenues for diversification and expansion.

The acquisition of Trident Global B.V. was completed on June 11, 2024, with Trident Home Textiles Limited investing in 15,000 ordinary shares of Trident Global B.V. The consideration for this investment was in cash, with each share acquired at a nominal value of Euro 1. This acquisition represents an increase in Trident Home Textiles Limited’s shareholding in Trident Global B.V., further solidifying its control over the subsidiary.

About Trident Global B.V.

Trident Global B.V. was established in the Netherlands on June 15, 2023. The company’s primary focus lies in the wholesale distribution of textiles, paper, non-food consumer goods, and clothing accessories. As of March 31, 2024, Trident Global B.V. had a turnover of nil and a paid-up share capital of EUR 5,000.

About Trident Ltd

Trident Ltd has grown significantly in the textile industry worldwide in over 30 years. It serves customers in more than 100 countries and offers a wide range of products, such as yarn, bath linen, bed linen, wheat straw-based paper, chemicals, and captive power. Trident Ltd. became a publicly listed company in October 1992. In FY 2023-2024, Trident Ltd allocated an additional ₹785 crores for Capex, bringing the total investment to INR ₹1,397 crores. This funding was crucial for completing ongoing projects in spinning, sheeting, and towel manufacturing, as well as increasing the capacity of the Cogen Power Plant and Solar Power Plant.

On June 12, 2024, Trident Ltd’s share price opened at ₹38.25 and touched its highest price at ₹40.19 as of 10:24 AM on the NSE.

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