Future Market Networks Limited has fixed the price at ₹12.77 per security for its proposed preferential issue of equity shares and warrants to Westfield Hygiene Private Limited. The company issued a corrigendum to the notice of its Extraordinary General Meeting (EGM) scheduled for June 17, 2026, to rectify the price determined through a valuation report and to correct the stock exchange designation where the equity shares are frequently traded.

The EGM will seek shareholder approval to issue up to 1,00,000 equity shares and 1,99,00,000 fully convertible warrants to Westfield Hygiene Private Limited, a non-promoter group entity. The total issue size aggregates to ₹25,54,00,000. The warrants will be convertible into one fully paid-up equity share of face value ₹10 each within 18 months from the date of allotment.

Pricing and Valuation

The issue price of ₹12.77 per equity share and warrant includes a premium of ₹2.77. This price was determined based on a valuation report obtained from Vishnu Khandelwal, a registered valuer, as the proposed allotment exceeds 5% of the post-issue fully diluted share capital. The relevant date for determining the floor price is May 18, 2026.

The company noted that the equity shares are frequently traded on the National Stock Exchange of India Limited (NSE) with higher trading volumes, correcting a previous mention of BSE Limited. The 90-day and 10-day volume weighted average prices were ₹8.48 and ₹10.29 respectively, but the valuation report price of ₹12.77 was adopted for the preferential allotment.

Payment Structure

The subscription requires an upfront payment of 25% of the warrant issue price, amounting to ₹6,35,30,750. The remaining 75%, equivalent to ₹19,05,92,250, will be payable upon the exercise of the warrants. Full consideration for the equity shares must be paid at the time of allotment.

Shareholding Pattern

The corrigendum also rectified an error in the post-issue shareholding pattern table. The sub-total (B) under Public for post-issue equity shares was corrected to 5,99,60,971 shares, representing 54.49% of the shareholding.

The EGM will be held via Video Conferencing and Other Audio-Visual Means on June 17, 2026, at 2:00 p.m. IST. The company stated that the warrants and equity shares will be subject to lock-in periods as prescribed under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Future Market Networks Limited has allocated ₹2.52 crore raised through a preferential issue, primarily to repay a secured loan to Axis Finance Limited. The company disclosed the utilization of these proceeds to the stock exchanges on May 29, 2026, confirming that the deployment of funds aligns with the stated objectives without any deviation.

The disclosure was submitted in compliance with Regulation 32(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Anil Cherian, Head – Legal and Company Secretary.

Utilization of Proceeds

The funds raised were distributed across two main categories. The majority of the capital was used to service existing debt, while the remaining amount was earmarked for general corporate needs.

The company explicitly stated that there was no deviation in the utilization of the proceeds from the preferential issue.