"The company has today received intimation of allotment from LITL with respect to allotment of 2,50,00,000 equity shares pursuant to participation in rights issue of LITL," Trident Ltd said in a BSE filing.
The company acquired the shares at Rs 10 each and said post the acquisition of the stake, LITL has become an associate company of Trident Ltd.
The acquisition of LITL would help in forward/backward integration of textile business of the company, it said.
It had a turnover of Rs 142.03 crore in FY 2014-15.
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