Textile and paper maker Trident plans to raise funds up to Rs 1,100 crore through NCDs and equity shares. Of this, Rs 600 crore will be raised by issuing Non-Convertible Debentures (NCDs) and up to Rs 500 crore through equity shares. As per SRTEPC reports, Trident had earlier cleared the resolution for raising of funds for an amount not exceeding Rs 600 crore by issue of NCDs by way of public or private offering, in one or more tranches. It also approved the resolution for raising of funds for an amount not exceeding Rs 500 crore by issue of equity shares, non- convertible debt instruments along with warrants, convertible debt instruments or by way of a public or private offering, including QIP.

The company also appointed Naveet Jindal as its new CEO for Paper, Chemicals and Energy Business and Swapan Nath as CEO for Budhni. The board also approved the change in designation of Rajiv Dewan as the new Chairman of company with immediate effect and appointment of Usha Sangwan as its additional director.