Future Market Networks Completes Warrants Conversion, Allots 31.18 Lakh Equity Shares
Future Market Networks Ltd has completed the allotment of equity shares following the conversion of convertible warrants, resulting in the issuance of 31,18,574 fully paid-up equity shares. The transaction involves the conversion of these warrants into equity stock based on established terms, with a total aggregated amount reported for the allotment at Rs. 3,49,59,215/-.The company approved the conversion of the specified convertible warrants, granting each warrant a one-to-one ratio equivalent to one equity share. The newly issued shares carry a face value of ₹ 10/- each and were allotted at a conversion price of ₹ 11.21/- per equity share.
Details regarding the allotment and the involvement of key investors are provided below:
| Particulars | Details |
|---|---|
| Type of security issued | Equity Shares with a face value of Rs. 10/- each, upon the exercise of conversion options. |
| Issuance type | Conversion of warrants into equity shares; the warrants were initially allotted on a preferential basis. |
| Total securities allotted in this transaction | 31,18,574 Equity Shares. |
The allotment was made to Surplus Finvest Private Limited, categorized under the Promoter Group. The details specific to the conversion executed by the entity are summarized as follows:
| Name of Allottee | Category | Warrants Applied for Conversion | Equity Shares Allotted Upon Conversion | Amount Received (from this tranche) |
|---|---|---|---|---|
| Surplus Finvest Private Limited | Promoter Group | 31,18,574 | 31,18,574 | Rs. 2,62,19,411/- |
The allotment relates to a total of 95,00,000 warrants previously allotted to Surplus Finvest Private Limited, out of which 65,00,000 were held before the conversion event. Following this process, 33,81,426 warrants remain pending for future conversion.
FMNL Stock Price Movement
Shares of Future Market Networks Limited slipped by 0.39% to settle at ₹10.25 on Friday, shedding ₹0.04 from the previous close. The equity traded for a total volume of 5,604 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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