Future Market Networks Ltd issued a corrigendum to its EGM notice, clarifying details about its ₹25.54 crore preferential issue to Westfield Hygiene Private Limited. The update corrects pricing methodology and shareholding disclosures, with core issue terms unchanged.
Future Market Networks Ltd has issued a corrigendum to its Extraordinary General Meeting (EGM) notice, scheduled for June 17, 2026. This update clarifies technical details regarding the pricing and capital structure for a preferential issue. ## What just happened The company corrected its EGM notice for a preferential issue of equity shares and fully convertible warrants worth ₹25.54 crore to Westfield Hygiene Private Limited. The issue price is fixed at ₹12.77 per unit. ## Why this matters This clarification ensures regulatory compliance and provides greater transparency to shareholders. The core terms of the preferential issue, including the price and total amount, remain the same, offering stability for investors. ## The backstory Future Market Networks Ltd is proceeding with a preferential issue involving both equity shares and warrants. The total value of this issuance is ₹25.54 crore. ## What changes now The corrigendum rectifies two administrative errors: the reference stock exchange for pricing methodology from BSE Limited to NSE, and a correction in the 'Post-issue (Equity Shares)' column for public shareholding. The upfront payment for warrants is 25% (₹6.35 crore), with the remaining 75% (₹19.06 crore) payable upon conversion within 18 months. ## Risks to watch Allotted shares and warrants are subject to SEBI lock-in periods. Warrants not exercised within 18 months will lapse, forfeiting the upfront subscription. The company also noted outstanding warrants from previous issuances contributing to dilution. ## Peer comparison Information on peers is not available in the filing. ## Context metrics (time-bound) The preferential issue is valued at ₹25.54 crore at ₹12.77 per unit. The EGM is scheduled for June 17, 2026. Warrant conversion is due within 18 months of allotment. ## What to track next Shareholders should monitor the EGM outcomes and the subsequent exercise of warrants by Westfield Hygiene Private Limited.
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