Hazoor Multi Projects has completed a major financing step by converting its warrants into ordinary shares, boosting its capital base.
What happened?
The company issued 1,89,11,320 new equity shares at ₹30 each (including a ₹29 premium). These shares came from the conversion of 18,91,132 warrants that were originally priced at ₹300 per warrant.
How the conversion worked
- Each warrant could be turned into one share.
- Warrant holders paid only ₹75 per warrant up front (25% of the price).
- The remaining ₹225 per warrant must be paid within 18 months to complete the conversion.
- 19 investors, including Prabhudas Liladhar Advisory Services and Morde Foods Pvt Ltd, received the new shares on a preferential basis.
Capital impact
After the conversion, Hazoor’s paid‑up capital rose to ₹27.06 crore, represented by 27,06,31,110 shares of ₹1 each. The new shares sit on equal footing with existing shares.
Share price snapshot
- Last closing price (Friday): ₹37.33 on BSE.
- Six‑month change: –4.38%.
- One‑year change: –25%.
- Five‑year return: a staggering 12,350% multibagger.
- 52‑week high: ₹57.80 (Jan 27).
- 52‑week low: ₹26.80 (Nov 19).
Why it matters to you
The capital raise strengthens the company’s balance sheet, giving it more room to fund projects and grow. However, the stock has been under pressure recently, so investors should watch how the increased equity base translates into operational performance.
Bottom line
Hazoor Multi Projects’ warrant‑to‑share conversion adds over ₹42 crore of fresh funds and expands its share capital. Keep an eye on earnings and project updates to gauge whether the move will lift the share price in the coming months.
Remember, this is perspective, not prediction. Do your own research and consider consulting a financial advisor before making any decisions.