150% Return 1 Year: Realty Stock Okays Conversion of 1,46,061 Warrants Into Shares

Hazoor Multi Projects' small-cap stock began Friday at Rs 354.30 per share, up from the previous close on the BSE of Rs 349.75. The company's fund-raising committee authorised the conversion of 1,46,061 warrants into shares during their meeting on Thursday, June 27, 2024, which puts the stock in the spotlight today.

In their meeting on Thursday, June 27, 2024, the company's fund-raising committee discussed and approved the preferential allocation of equity shares to "Non-Promoters/Public Category" upon receipt of the remaining funds totalling Rs. 3,28,63,750/-at the rate of Rs. 225/-per warrant. This conversion of 1,46,061 warrants into 1,46,061 equity shares with a face value of Rs. 10/-each and an issue price of Rs. 300 each, plus a premium of Rs. 290/-per share.

Yoshi Envirotech Private Limited, Ankit Aggarwal, West Midlands Ventures Pvt Ltd, Priyanka Agarwal, Jitendra B Parmar HUF and Anuj Ashokkumar Jain are the allottees who take part in the warrants issue.

"Pursuant to members approval, these warrants were allotted, in terms of SEBI (ICDR) Regulations, 2018 to NonPromoters/Public Category, on preferential basis, at an Issue Price of Rs. 300/- per warrant on payment of Rs.75 per warrant, being 25% of the Issue Price, entitling the warrants holders to get their warrants converted into equal number of Equity Shares of the Company by paying remaining 75% i.e., Rs. 225/- within 18 months from the date of warrant allotment. Consequent to today's conversation of warrants/allotment of Equity Shares, the issued and paid-up capital of the Company stands increased to Rs. 18,85,66,020/- consisting of 1,88,56,602 equity shares of Rs. 10/- each," Hazoor Multi Projects in a stock exchange filing on Thursday.

"It may be pleased note that 1,24,39,239 total warrants are outstanding for conversion and these warrant holders are entitled to get their warrants converted into equal number of Equity Shares of the Company by paying remaining 75% i.e., Rs. 225/- per warrant within 18 months from the date of warrant allotment," the company further added in a regulatory filing.

The 52-week high and 52-week low for Hazoor Multi Projects' shares were Rs 454.00 on 23 February 2024 and Rs 110.00 on 31 July 2023, respectively. This is a 225% rise from the 52W Low. According to Trendlyne statistics, the stock price of Hazoor Multi Projects surged by 150% in the past year, surpassing the performance of its sector by 70.12%. Compared to its rivals, the firm has a low debt-to-equity ratio of 0.03.

One of Dalal Street's multibagger stocks is Hazoor Multi Projects, which has returned 23,700.68% to the shareholders over the last five years, 3,855% over the last 3 years, 150% over the last year, and 2.65% YTD.