In a significant move to strengthen its financial position, infrastructure development company Hazoor Multi Projects Ltd has successfully completed a major fund-raising exercise through the conversion of warrants into equity shares. The company's fund-raising committee approved the allotment on Tuesday, 23rd December, 2025.
Details of the Preferential Allotment
The company has allotted a total of 1,89,11,320 equity shares, each with a face value of ₹1, at an issue price of ₹30 per share. This allotment was made consequent upon the conversion of 18,91,132 warrants that were originally issued at an issue price of ₹300 per warrant.
This conversion was triggered after the company received the balance payment of ₹42,55,04,700 (Forty-Two Crores Fifty Five Lakhs Four Thousand Seven Hundred) from the allottees. The payment represents 75% of the issue price per warrant, amounting to ₹225 per warrant. The warrants were initially allotted on a preferential basis upon payment of 25% (₹75) of the issue price.
Who Are the Allottees?
The equity shares were allotted to 19 entities belonging to the "Non-Promoters/Public Category". Notable names in the list of allottees include Prabhudas Liladhar Advisory Services, Morde Foods Private Limited, Donald Venture Private Limited, and NVS Corporate Consultancy Services. The new shares will rank pari-passu, meaning equally, with the existing equity shares of the company.
This transaction follows a sub-division of the company's equity share nominal value, where 1 equity share of ₹10 each was sub-divided into 10 equity shares of ₹1 each. The adjustment was factored into the conversion calculations.
Impact on Company's Capital Structure
Post this allotment, the issued and paid-up capital of Hazoor Multi Projects has increased substantially. It now stands at ₹27,06,31,110, comprising 27,06,31,110 equity shares of ₹1 each. This infusion of capital is expected to bolster the company's resources for future projects and growth initiatives.
The warrant holders had an 18-month window from the date of the original allotment to pay the remaining 75% and convert their warrants into equity shares. The completion of this process signifies strong investor confidence in the company's prospects.
Stock Performance and Overview
On the trading front, Hazoor Multi Projects shares closed marginally higher at ₹37.33 on the BSE last Friday. The stock, which is listed exclusively on the BSE, has experienced near-term pressure, declining 4.38% over the last six months and 25% over the last year.
However, the long-term view tells a different story. The stock is a renowned multibagger, having delivered staggering returns of 12,350% over the past five years. The stock's 52-week journey saw it touch a high of ₹57.80 on January 27 and a low of ₹26.80 on November 19.
This strategic capital raise through warrant conversion marks a key milestone for Hazoor Multi Projects as it seeks to leverage the strengthened capital base for its next phase of expansion in the infrastructure sector.
