Undertaking from the Managing Director of the company regarding utilization issue proceeds to be realised from the preferential issue of 25,00,000 Equity Convertible Warrrants.
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Awaiting price reaction for this filing.
Managing Director Nitin Aggarwal of Fruition Venture Ltd has given a formal undertaking to BSE confirming that the proceeds from the preferential issue of 25,00,000 Equity Convertible Warrants, priced at Rs. 20 per warrant (including Rs. 10 premium), will be used strictly for the objects disclosed in the 31st AGM notice held on 28 September 2025. The total potential issue size at face value works out to around Rs. 5 crore, with warrants allotted to promoters and non-promoters. The MD also committed that funds will not be used for any purpose beyond the company's objects or outside applicable laws, including the Companies Act, 2013 and SEBI regulations. This is a routine regulatory compliance filing tied to the earlier preferential allotment approved by shareholders.
This is largely a procedural compliance submission and unlikely to move the stock on its own. It does, however, formally lock in management's commitment to using the warrant proceeds only for disclosed purposes, offering some comfort to investors regarding fund deployment transparency.