Trescon Limited, initially established as Pushpanjali Floriculture Limited in 1995, shifted its focus from floriculture to information technology and allied services. In 2018, the company's board decided to diversify further into trading various goods, broadening its business scope. This strategic pivot aimed to explore more profitable avenues, necessitating a change in the company's main objective clause from floriculture to encompass a wider range of trading activities.
Later in 2018, significant ownership changes occurred when 6,62,600 equity shares were transferred to new acquirers, including Mr. Dinesh Patel and others, who are involved in construction and infrastructure projects. Following this, the company issued additional shares and warrants through preferential allotment, resulting in an open offer for 26% of the company's capital. Consequently, Trescon Limited's business objectives were realigned to reflect these new interests in construction and infrastructure, aligning with the expertise of the new stakeholders.
