Trident Limited acquires Trident Home Textiles Limited

Trident Limited said that its financial management committee has approved the company’s acquisition of 100% of Trident Home Textiles Limited by buying out 50,000 equity shares in the latter.

The paid-up capital of Trident Home Textiles Limited is INR 500,000 and its turnover is nil.

Incorporated in 2011, Trident Home Textiles Limited was supposed to mainly carry out textile business but is yet to begin commercial operations. It has a registered office in Sanghera, Punjab.

Through the deal, Trident Limited will have a stake of 73.5% in Trident Global with a direct holding of 49% and an indirect holding of 24.5% through the acquisition of 36,750 shares in the latter.

Incorporated in the US in 2003, Trident Global is involved in the business of trading textiles. Its FY2021-22 turnover was $ 94,86,307.