Following conversion of CCDs into 13.20 lakh equity shares of Amar Chitra Katha
Future Consumer announced that 13,20,159 equity shares of Amar Chitra Katha (ACKPL) having face value Re. 1 per equity share have been allotted to the Company on 14 January,2022 at a premium of Rs. 376/- per equity share, consequent to conversion of 4,977 Compulsorily Convertible Debentures (CCDs) originally allotted to the Company.The said CCDs have been converted by ACKPL in accordance with the terms of issue of CCDs, being eligible for full conversion into equity shares after expiry of the period of 3 (three) years.
Further, post allotment of the equity shares as aforesaid, the Company holds 68.72% of paid equity share capital of ACKPL and accordingly ACKPL has now become a subsidiary of the Company.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content