Allotment of 64,85,000 Convertible Warrants at an issue price of Rs. 122.50 per warrant for which 25% of the issue price has been paid by the allotees listed in the attached outcome.
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The Board of Fundviser Capital (India) Ltd approved the allotment of 64,85,000 convertible warrants at Rs. 122.50 per warrant (face value Rs. 10 + premium Rs. 112.50), aggregating to about Rs. 79.44 crore. These warrants were issued to 15 allottees, including promoter/promoter group entities and strategic non-promoter investors such as Meteor Capital Fund VCC, Minerva Ventures Fund, Second Street Partners Fund PCC, and Starlink General Trading LLP. The company has received Rs. 19.86 crore as 25% subscription money; each warrant is convertible into one equity share at an exercise price of Rs. 91.875 within 18 months (by May 2027).
This is a dilutive preferential allotment where the company raises only 25% upfront (Rs. 19.86 crores of a possible Rs. 79.44 crores), with the balance due on warrant exercise; existing shareholders should note potential equity dilution if all warrants are converted within 18 months.