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.

Future Market Networks Limited has scheduled an Extra-Ordinary General Meeting (EGM) on June 23, 2026, to seek shareholder approval for raising funds through a preferential issue. The company reported a turnaround in its financial performance for the quarter ended March 31, 2026, with a standalone net profit of ₹151.88 lakh compared to a net loss of ₹2,844.43 lakh in the corresponding quarter of the previous year. For the full year, the standalone net profit stood at ₹835.98 lakh.

Capital Raising Proposal

The board has approved the issuance of up to 1,00,000 equity shares and up to 1,99,00,000 warrants on a preferential basis to Westfield Hygiene Private Limited, a non-promoter group entity. The issue price is fixed at ₹10.80 per equity share and warrant, aggregating to an amount not exceeding ₹21.60 crore. The warrants are convertible into equity shares within 18 months from the date of allotment. The proceeds are intended to be utilized for working capital and general corporate purposes.

Financial Performance

Total income from operations for the quarter ended March 31, 2026, stood at ₹2,244.06 lakh, while total income for the year was ₹9,869.79 lakh. The statutory auditors, Bakliwal & Co., issued an unmodified opinion on the audited standalone and consolidated financial results, noting a positive net worth of ₹12,469.45 lakh as on March 31, 2026.

EGM Details

The EGM will be held on June 23, 2026, at 2:00 p.m. IST through Video Conferencing or Other Audio-Visual Means. The remote e-voting period commences on June 12, 2026, at 9:00 a.m. IST and concludes on June 16, 2026, at 5:00 p.m. IST. The cut-off date to determine shareholder eligibility for voting is June 16, 2026.