Key Event Details
On June 13, 2026, the Board of Directors of Future Market Networks Limited approved the conversion of 31,18,574 (Thirty One Lakh Eighteen Thousand Five Hundred and Seventy Four) convertible warrants into an equal number of equity shares. This conversion was executed through a circular resolution.
Conversion Terms
Each warrant was converted into one equity share of face value ₹10 each at a conversion price of ₹11.21 per equity share, as prescribed under Regulation 169 of the SEBI ICDR Regulations. The conversion ratio was 1:1 - one equity share for every warrant exercised.
Financial Consideration
The total consideration received for the conversion aggregates to ₹3,49,59,215 (Three Crore Forty Nine Lakh Fifty Nine Thousand Two Hundred Fifteen). This amount represents the 75% balance payment of the issue price per warrant, with the remaining 25% having been received at the time of the initial warrant allotment on December 18, 2024.
Allottee Details
The sole allottee is Surplus Finvest Private Limited, identified as part of the Promoter Group.
Shareholding Impact
- Number of warrants applied for conversion: 31,18,574
- Number of equity shares allotted upon conversion: 31,18,574 fully paid-up equity shares of ₹10 each
- Premium per share: ₹1.21
- Total premium amount: ₹37,74,474 (31,18,574 shares × ₹1.21)
Historical Context and Approvals
The warrants were originally allotted on a preferential basis on December 18, 2024. The conversion follows in-principle approvals issued by both BSE and NSE on December 09, 2024.
Outstanding Warrants
Following this conversion, 33,81,426 warrants held by Surplus Finvest Private Limited remain pending for future conversion.