Future Group increased its stake in Amar Chitra Katha Private Limited (ACKPL), the publisher of Amar Chitra Katha comics, to 68.72 per cent, after conversion of debentures into equity. After this, Future Consumer holds a majority stake in ACKPL, the firm said in a BSE filing.
“The company holds 68.72 per cent of paid equity share capital of ACKPL and accordingly ACKPL has now become a subsidiary of the company,” the filing read. These compulsorily convertible debentures have been converted by ACKPL according to the terms of the issue, which has a provision for full conversion into equity shares after expiry of three years.
“This is to inform that 13, 20,159 equity shares of Amar Chitra Katha Private Limited (ACKPL) having face value of Re 1 per equity share have been allotted to the company on January 14, 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 company further noted in its BSE filing.
Amar Chitra Katha was founded by Anant Pai, also known as Uncle Pai, in 1967. The Amar Chitra Katha is widely popular for its retelling of stories from Indian epics, mythology, history, literature, oral folklores, and other sources. According to its website, Amar Chitra Katha has more than 400 comics in over 20 languages that have sold over 100 million copies till date.
(With agency inputs)
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