Outcome of Board Meeting held for allotment of 64,85,000 Convertible warrants to the allottees at issue price of Rs.122.50 per warrant for which 25% of the amounts has been paid on the application.
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Fundviser Capital has allotted 64,85,000 convertible warrants at Rs. 122.50 per warrant (face value Rs. 10 + premium Rs. 112.50), totalling approximately Rs. 79.44 crore. The company has already received Rs. 19.86 crore (25% of the issue price) on application. Allottees include 5 promoter/promoter group entities (e.g., Trikaal Theatres, Mohit Jain, Prem Krishan Jain) and 10 strategic non-promoter investors, including funds like Meteor Capital Fund VCC, Second Street Partners Fund PCC, Minerva Ventures Fund, and Starlink General Trading LLP. Each warrant can be converted into one equity share at Rs. 91.875 per share within 18 months (by May 24, 2027). The allotment follows a special resolution passed at the EGM on October 28, 2025.
This is a potentially dilutive equity raise. If all warrants are converted, the company's share count will rise meaningfully. However, the participation of strategic investor funds signals some institutional confidence. Existing shareholders should monitor for future dilution when conversion happens over the next 18 months.