Future Market Networks Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on June 17, 2026
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Future Market Networks Limited is convening an EGM on June 17, 2026 to seek shareholder approval for a preferential issue of up to 1,00,000 equity shares and 1,99,00,000 fully convertible warrants to Westfield Hygiene Private Limited (a non-promoter/public entity). The total issue size is INR 21.6 crore at INR 10.80 per share/warrant (including INR 0.80 premium). For warrants, 25% (INR 5.37 crore) is payable upfront, with the remaining 75% (INR 16.12 crore) due upon exercise within 18 months. The floor price of INR 10.80 was determined using the 10-day VWAP, which equals the price, and an independent valuer report was obtained as the issue exceeds 5% of post-issue diluted capital. If warrants are not exercised within 18 months, the upfront amount is forfeited.
The issuance will dilute existing shareholders as up to 2 crore shares could be issued upon warrant conversion. The non-promoter allottee (Westfield Hygiene) will gain significant exposure to the company, though warrant holders have no voting rights until conversion.