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Trident Lifeline brings its IPO of Rs 35.34 Crore on September 26, to be listed on BSE SME

September 23, 2022 19:55 IST | ANI Press Release
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Trident Lifeline brings its IPO of Rs 35.34 Crore on September 26, To be listed on BSE SME

New Delhi [India], September 23 (ANI/PNN): Trident Lifeline is engaged in the pharmaceutical business ethical marketing in domestic as well as international market. It brings its IPO of Rs 35.34 crores with each share priced at Rs 101, with a face value of Rs 10, and the minimum lot size is 1,200 shares. The lead manager to the issue is Beeline Capital Advisors Private Limited and the registrar to the issue is Link Intime India Private Limited. The issue opens on the 26th of September and closes on September 29, 2022. It will subsequently be listed on the BSE SME platform.

The main objective of the funds raised through the IPO are

- To meet working capital requirements

- Product registration in the international markets

- General corporate purpose

- To meet public issue expenses

The promoters of the issue are:

Hardik Jigishkumar is the promoter, Chairman and Executive Director of Trident Lifeline. He has 8 years of experience in the field of pharmaceuticals and decades of experience in textiles. He is responsible for the overall management of the Company.

Shravan Harikrishna Patel is the Managing Director of the Company. He has 3 years of experience in the field of pharmaceuticals. He is responsible for the procurement function of the Company.

Mayurkumar Mansukhbhai Gajera is the Whole Time Director of the Company. He has 3 years of experience in the field of pharmaceuticals. He is responsible for the sales and procurement function of the Company.

Maniya Hardik Desai is the Non-Executive Director of the Company. She has 5 years of experience in the field of pharmaceuticals.

Aena Surana is an Independent Director of the Company. She has around a year of experience in the field of content strategy and copywriting.

Dhaval Vimal Shah is an Independent Director of the Company. He has 5 years of experience in the field of hospitality.

Trident Lifeline Limited is a diversified pharmaceutical company with business operations spanning manufacturing formulations under its own brands, loan license model and contract manufacturing model. The company is also engaged in the distribution of pharmaceutical products through third-party distribution network. It offers a wide range of pharmaceutical formulations and products manufactured on contract manufacturing under loan license. It operates in India as well as African, Latin American and East Indian Countries. Its product categories include capsule, tablet, liquid ointment, gel, ice gel, mouthwash, paste, solution, suspension, toothpaste, syrup and creams. Their product portfolio comprises of wide range of drugs like antibacterial, anti-diarrheal, antifungal, antimalarial, antidiabetic, dental cure, proton pump inhibitor, Anti Protozoal, antihistamine, antihypertensive drugs, antilipidemic drug, anti-parasitic, multivitamin, multimineral Nutraceutical and Non-steroidal anti-inflammatory drug (NSAIDS).

Trident Lifeline Limited has recorded impressive growth in its finances over the years. It registered revenue of Rs 2,176.79 lakhs in FY2022 compared to Rs 962.23 lakhs in FY2021. Its EBITDA for FY2022 was Rs 336.49 lakhs, compared to Rs 140.22 lakhs in FY2021, an increase of 15 per cent. Its PAT for FY2022 was Rs 227.32 lakhs as compared to Rs 63.23 lakhs in FY2021.

This story has been provided by PNN. ANI will not be responsible in any way for the content in this article. (ANI/PNN)

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